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!!

Eric, take care and I endorse SEADOG's last commnets. Canadian medical facilities are really good.

As for Kahn does it talk about share liquidity (?)as I think you will find that the technical rules tend to work better on higher volume shares. Having said that I will run through your request later and post before you are up in Vancouver! The cricket has just turned England's way after a finely balanced session! Meanwhile I am still suffering from the PET drama's of Friday when my Broker did not honour the SL!! Be warned, meanwhile I have selected this quote for you Eric:

"As everyone who has ever played the 'Great Game' knows, golf is life. So is investing. The great challenge in golf is not how to hit the ball or how to line up a putt or come out of a sand trap. (re investment: be able to read a report and accounts; read macro). The great challenge is to control the golfer yourself. Its the same in investing: Know your capabilities and resources and play within them." (Eric my personal investment gospel).

I do like your new approach Eric and believe it will lead to better overall returns next year. Remember to keep your trading diary and you will soon see the improvement.

Finally, I do think ASOS will be a takeover target next year and do not think there is currently a premium in the price to reflect this possibility.

John

John

Eric: Re my interpretation of the ASOS Chart:

SP currently just below the median of wonderful uptrend. RSI/MACD remain in consolidation pattern. Try looking at Bar Chart rather than line as it demonstrates some great buying opportunities over last few weeks!

Re my interpretation of PET:

SELL.

Re my interpretation of TEP:

Assuming you are already a holder...take advantage of this bounce back and SELL.

Re my interpretation of CDN:

I note that on Friday it hit a 6.2p intra-day peak, which is probably the resistance channel for the time being. All indicators are starting to turn up, but always difficult to make any determination on these penny stocks. If I was a holder, then I would Hold, if I was a potential Buyer I would stand aside and see what happens over the nest few sessions.

Having made the above comments there is of course the fundamentals to consider plus the Xmas/New Year trading pattern, which is a mystery to behold! Best choice for me if I was looking to place some money on the table would be ASOS...no question on this reading of the charts. So take the painful hits on the losers and add to the winners at the right time.

Hope this helps. John

Eric:
I agree with johngtudor on all his interpretations, With CDN, this SP has been trading sideways since May between 4.1 and 6.5 approx with the odd spike to 7.0. My indicators have turned up but my RSI has not cleared 50 on the weekly chart, nor has the MACD crossed 0 but indicates we may see a short rally. The Stochastic indicates that we may have seen the bottom for a while. Personaly I would like to see the SP clear 7 and hold above it before taking a position.
In addition to johngtudors advice to look at bar charts also look at candlesticks, and weekly charts as well as daily charts.
Hope your wife is recovering well.
Have a good lunch !!! SD

Eric/SEADOG: I did not mention Candles to Eric, because I wanted him to get comfortable with Bar Charts first. However if he is 'gung ho' on Candles which has it's own language and MUST be used with some Western Indicators as well...may I suggest an excellent slim volume by Steve Nison, entitled: 'The Candlestick Course'. It is obviously written around a course and includes lots of questions at the end of each chapter to make sure you know what you think you know! I found the answers at the back of the book particularly useful...they told me even more! I bought it on Amazon and it virtually arrived the next day, primarily to add to his other volumes...but it is outstanding value for money and a MUST HAVE for anyone serious about applying this black art to trading. John

Morning all
I'm away today, Happy Christmas everyone,and a prosperous ASOS new year.

Morning Seadog,

Hope you did all your Christmas shopping through ASOS.. Have a good Christmas.

Chris

anyone see the happy comment in telegraph today"ASOS a stock to be avoided " They must be the only one on the planet to post a negative comment. It would appear investors agree because as soon as the price dropped to 80p the buying started up....hope i am right cos after PET et al from this week xmaS aint looking too happy!

Willfagg
Did they give any reason for their comments?

Probably written by a deramping spreadbetter who has put a big shorting bet on it. It's only one person's view anyway. Perhaps he didn't do much research. So maddening though, when we all know it's getting bigger and better. I'm certainly not selling anyway. This week's news is next week's fish and chip paper - or turkey wrapping. Wishing a great Christmas and prosperous (Asos) new year to everyone.

has anyone know the date of xmas update?

its frustrating to see the impact this one comment has made on the share price.I know where i would like to stick his newspaper, and believe me i would make it fit!

Willfagg, I am sure all the readers on this board will second that! Good idea that one. Disappointed as I am, your comment still made me smile. Don't know why so many people have reacted so quickly to just one person's view. Don't they do their own research?

This is what Yahoo Finance has to say -

Shares in celebrity-focused internet retailer Asos (LSE: ASC.L - news) have risen 15 fold this year, but as a result the shares are now just too expensive says the Telegraph.

Asos may be lower-cost and more cash generative than most retailers but it can still misjudge the consumer mood like any clothing chain.

It remains an interesting play for those who like high-risk stocks but most should avoid until the shares have calmed down.

Any comments?

Yes, rohitjairaj, I unfortunately agree with them i am sorry to say. I am happy that everyone has done well, but the fundamentals don't stack up...

They probably will go higher but I can't justify taking the risk. I watch this everyday and curse the 40p i left it after buying at 7.75 and 8p!!

I seem to recall Telegraph telling people to sell at 38p earlier in the year too. Perhaps they want to buy some on the cheap.

capa

nice one capa

Happy Christmas Everyone!!

Many thanks for all the kind thoughts re Mary and her hospital visit. It makes you realise that you really do build friendships with those you chat with on the bb. She was impressed too when I relayed the good wishes. Now out of hospital and recovering up here in Whistler. We are taking it easy and leaving the skiing until after Xmas. All is doom and gloom from the locals re the skiing conditions but the family report that it still beats the Alps into a cocked hat. The hospital was outstanding too and the staff could not have been better. Well done vancouver and the canadians. More friends!

May have been better off away from the internet action - markets open midnight to 8.30 a.m.; might have been motivated to over-react and to sell the lot, except ASC that is. I suddenly have quite a nice set of recovery stocks! I like the idea of candels - currently into the esoteric with my other holiday book being about the Enneagram and rediscovery of the soul! Will get johngtudor's little book on my return. See ASC is testing the MA50 line again but happy with the fundamentals. It must be a takeover bet, as John says, next year after the hammering the high st chains are taking. Hope management stick it out because there is so much further to go with own brands, additional lines, Amazon and wanadoo portals and then the north american market. Still a fundamentalist at heart and I thing the cap of #52M (sorry no pound here!) is still very low even taking next year's potential into account. Mind, its a reasonable reaction to assume that a 1400% rise one year will lead to tears the next. But you have to rate it on current analysis - that MA50 line is lovely and the trading situation/business plan are a one-off! I notice that there was little reaction to the challenge to find the ASOS of next year. Funny if the answer were: wait for it, ASOS!

A very happy Christmas to all readers!

Eric

You as well eric, I hope your wife has a speedy recovery pal. Wish her well from the LEGEND!!!

Merry Xmas to everyone else too.