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Agree with some of your points Simon. I see this as a marathon rather than a sprint. Although, I would be happy to see it leap over the finish line with a decent take out offer.
Re the CEO, positive spin is his job - as long as it's based on fact and in this case it is.
Speaking of bears, it will be interesting to hear/read Simon's take on today's update. I'm sure there's some glaring problems the rest of us haven't yet identified.
Bears are very welcome on this arc, Al4x.
I would be amazed if we don't bob above 400p at some point this week.
Anyway, signing off now.
Congratulations to those that keep the faith.
The simple 200mda is at 387, a close above this and we're off to the races - a fairly big if however - but certainly not beyond the realms of possibility looking at how frothy things are currently.
£7 close.
The market priced in a dreadful read out, so 'OK' (I actually think it's better than OK, given the precarious position the company has been in, in recent months and the state of the macros) can perhaps be read as 'good'.
Nonetheless, April is where a full and proper determination can be made. Be nice if the price rises into it. Might get picked up by some tracker funds if there are some reasonable broker notes too.
Yes - they report, again in around a month. That's when the detail turns up.
Good point. Now would be a really good time for the management to stick their hands in their pockets.
367 is the 50dma, which is the resistance.
Just depends on volume, but may not close above it.
*ASOS share price is up 10p on news that sales are down 18%
LSE is properly fooked :)*
Well, you obviously know very little about the ASOS story.
Strong update from ASOS, today.
Not sure I would call 5.5% up, flat. But it's early doors, Al4x.
I would be surprised if we don't see 8-10% up at some point today. Where it closes is another matter, but it's pleasing that it's started well.
Should go on a decent run, once they let it go.
Lots of pressure.
Nice open.
What matters however is the rest of the week. For me it's always about the technical signals - improvements will see the short positions reduce which in turn should help the price.
DYOR/GLA
Personally, I think the market will like the cash statement, but it's always very difficult to know.
Not long now.
*jd, appeals to a bigger demographic*
What does JD sell that ASOS doesn't? A few exclusive lines of trainers, but that's about it.
I'd actually say it's the other way around.
However, I wish you luck over at JD, it's another good play going forward in my opinion. No chance of the gains we're likely to see here over the next couple of years though.
Market was pricing this to fail and pricing this update to be dreadful.
Quite the opposite, in my honest opinion.
Could have £10bn in revenues - doesn't matter if the business can't make a profit.
Pretty sure I could sell £10bn worth of £20 notes for £5bn.
What matters is cash and profit and this is what the business is laser focused on.
Lon-term picture looks brighter this morning to me.
*Headline of 18% rev decline is horrendous.*
This is what I was saying last night - sure the media prints will be all over this. However, as you say, get the bonnet up and the engine is purring.
Looks like a pretty decent update to me.
No fireworks but a little better than steady as she goes..
See how the market reacts.
All good Tom. Can smell that garlic though from this side of the Bridge.
Don’t feel concerned about tomorrow at all.
Perhaps o should be?! Ha