ASOS have dropped quite significantly in the past week for no particular reason and I view this as the perfect opportunity to invest as I can see them bouncing right back up to the 5.50p mark in the next 2-3 weeks. STRONG BUY!!

cavman2
Don't just watch them, buy them back quickly (not less than 10% of your portfolio) and then watch them grow!
Eric

Eric
Am watching with a view to get back in, have'nt invested my proceeds.
Would like to put more but the coming good of ARX,PDX and HCEG taking longer than i thought.

self fulfilling prophecy. someone with a reputation says he is short , evryone starts to panic and sell , price drops and .......hey presto , the prophecy was fulfilled.

speaking as a physcologist its an ego not a reputation... someone that needs to feel looked upto and revered but i really doubt that enough people listen to him to actually affect the share price!

Down nearly 10% though over the last two trading days, although early for today yet!!

Re recent comments on price.

Instructive to look at the tp chart over the last 6 months. Gradual rise with three spurts: on finals in June; on trading report in July and on AGM in September. All had excellent news which stimulated the market. Buying continued during the gap between the first two events as more buyers heard of the stock and invested (including institutions). Following the jump in July, profit-taking set in and it became a good buying opportunity. I suspect the same is happening now and the price could ease somewhat until the next news. Timing of that probably depends primarily on whether the Board want to keep the price moving; given that it is unlikely, because of positive cash-flow, that they wish to raise funds, the short-term price movements may be academic to them.

But have a look at the chart: there is very nearly a straight line increase from 20p in April to 60p in September; projecting that line forward would give 1 by February, much in line with the SP forecast (see Snip's EMA50 chart in bb269). I admit to taking some profits, but then I have been very much overweight (2/3rds by value). I may continue to do that in the hope of taking profits from other situations and then re-investing. Great if that comes off! I know, though, if I had just a small stake, I would be increasing it as I saw buying opportunities (as I did in August, having sold in July).

Eric

A physcologist who can't spell psychologist????? you've got to laugh ;-)))

maddoctor

A doctor who admits he's mad! he's got to be sane!

Incidentally, if you really are a doctor, could you comment on the Alizyme thread, please.

I note that Quentin Griffiths, the Director who resigned in June, has sold 1.3M shares 'to satisfy institutional demand'. I suspect that institutional demand is far from satisfied and will help to carry the price up as positive trading reports continue to emerge.

Eric

ewrobson , no real comment on azm

Looks like the mms are on drugs this morning

capa

I particularly liked PUKEMAN's comment which was blank and probably very significant! What made you puke, man? (Sorry, that's a bit sick!).

Seriously, today's trading makes very interesting reading. Having been out for the day on the golf course (not quite Ryder Cup standard), you can sometimes get a better reading looking at the overall pattern. Comments:

1. The market initially went down with a bout of selling; may have been evil K and his evil spirits. Price dropped to 56.0 by 8.11 on 50K of sales.

2. Consistent buying at 57.0, market recovers to 59.0 by 9.17 on 135K of buys.

3, Buying continues to outweigh selling until price reaches 61.5 at 9.51. Total buys/sells just 350K so a lot of volatility without volume (total 235K buys and 115K sells).

4. Selling gradually catches up buying over rest of day finishing with a volume of 750K and a return to the starting point on price (53/39 buys to sells). Fairly typical volume. Spread back to three points whereas it had been 1 point at the middle of the day's trading when the even balance had been established.

I suspect you can learn quite a bit about the mm's tactics from the above which could inform the timing of transactions. Perhaps more pertinently, there appears to be a resistance point downwards at 57p and upwards about 62p, suggesting that the share might trade horizontally for a while. Views?

Eric

Eric

Also out on the Golf Course this afternoon, so missed most of the trading, although ASC was up when I went out. As you know I am quite sceptical about the value of ASC at the moment, but as I don't hold any, it's not a worry. I still believe the shares are overbought and overhyped and think that they may possibly retrace to lower levels. Having said that, they have traded more or less sideways since EK and others announced their shorts, so a plus so far. Clearly at the moment the Bulls and Bears are at a stalemate and it will be interesting to see which way it goes.The charts don't give a great deal of help either; Although the the MACD shows a Bearish Moving Average Crossover, this is the most common indicator and therefore results in the most false indicators. Not much help from the MA chart either, it's hit the 10 day so far, but that's not much help either. Personally I would buy some of these if they were a bit lower, so have a sort of vested interest, but a very difficult call at the moment.

regards

PTH

eric?, I'm watching for an entry , bears seem unable at the mo to drive price below 55( candles do suggest they are trying) and that number is the one to watch imo.

ptholden

We had unforecast rain in East Kent just as we started the round, which was a match so we couldn't stop, which is the most unacceptable type of rain to have!

I agree asos is a difficult read if you are not already in. I have been taking profits to bring a very much overweight situation down to a 'somewhat overweight'. What is your length of view? One month and I see other situations with potentially more positive newsflow (e.g. YOO, AZM - see bb's, but there will be many others in an active reporting season). Two months; not certain we will hear much and the price could drift. Interim results to end-September)? Year end has changed so not sure when we will have these; ASOS tend to be on the ball so we should have them late-October or early-November. Trading could be going through the roof by then with the additional buyers, additional lines, overseas markets and the Xmas season coming on. But why should ASOS say anything? They won't need any more funds, so why not just get on with expanding a fantastically successful business.

But I certainly would not want to be without a decent stake and I will, unless the price roars away in which case I am winning anyway, increase my holding when it becomes clear more positive news is imminent. This is the share of the year and you must, underlined which I can't do, buy in!

Eric

maddoctor

Agree 55p. I would be surprised in extremis if the bears do succeed. My point in analysing today's trading was that they had a go first thing. That's when they would try, wouldn't they. 50K in 8 minutes knocked the price down 1,75p but what happens, investors come piling in so what do they do, buy back later in the day at 60p+? or hold and try again tomorrow? I would like to be a fly on the wall - better there than trodden underfoot!

Eric

Eric

Can't really see the Interims doing much positive for the SP, IMHO it's now all priced in. I really do believe that this needs to settle down for a while, and find a reasonably priced level. Depending on what you read that could be anywhere between 40 and 55p. On the other hand if the shorters chicken out, it will go the other way at a rate of knots! I think we will know in the next few weeks. I am going to sit this one out for a while and if I miss out, well I'll survive for another day.

regards

PTH

ptholden

OK, not a problem! Would advise that you keep a close watch. Much as I am doing having reduced my holding to free up funds for punts elsewhere. This is really saying that the price won't move very much until trading indicators for the Xmas season. If I'm wrong, more likely to be that that the price moves ahead in advance on institutional buying. Cap. may be reasonable on projected PE's but they mean little when a company like ASOS is in the explosive growth phase; not being held back by limits on opening stores, for instance.

Eric

Hi Eric

Looks like following today's small drop, the SP has reached its first real support level. Another drop on Monday it's through the 50EMA and a possible next stop at 45p. MACD nor volume are not looking too encouraging either. All depends on next week to see who's in charge. If it reaches 30p I might buy some. LOL

Regards

PTH