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Whoami - life changing amounts can be made here - I was saying to my friend the other day (who bought 2000 shares at £6) what the value of her investment would be for every £10 rise in share price - when I said you could be looking at £100K+ for a £12K investment she was gobsmacked to say the very least.
Everyone has their own exit price/targets in mind but having an opportunity to invest not just in ASOS but other good companies whose share prices are depressed and driven down by the shorters doesn't come around too often - it's just been very frustrating at how long its been since we've had a"feel good" factor and hopefully patience will be very well rewarded in the coming months/years.
Have said that what were headwinds for ASOS are now becoming tailwinds so let's hope that gets reflected in the share price - given we're in a slightly different situation now, it makes me wonder how long it will take for the real recovery to happen. On previous occasions where the share price has dropped the fall has been fast, but the recovery has also been fast so I wonder if it will take two years to get to £50 odd again.
Not noticed you on here for a while Ableton - I can't do charts but the figure of £9.47 was roughly the figure I was looking for in the morning - from past experience of trading ASC in an uptrend the share price normally goes back to the "low point" of the prior day - it did the other day when it dropped to £8.30 first thing on Tuesday I think it was.
My own view is I think that the shorts may be starting to close if you look at the volume, not just on this share but the likes of OCDO and CCL which are also heavily shorted. Not sure if its more to do with the less doom and gloom commentary coming from the central banks or whether its the SEC starting to look at hedge funds and manipulation - whatever it is, let's hope this week is just the start of the recovery.
Thanks Whoami - I take a view at how things are at the end of each week to assess how I've done - that way if I get things slightly wrong on days like today I'm not beating myself up about it - having the right psychology/mindset is half the battle in this game.
Moniman - I always watch Bloomberg and see what US futures are doing as quite often if they fly up, we do, if they sink then we follow so today the share price went against what I was expecting it to - pre-market a lot of online retailers in the States were anything from 3-5% down - as someone mentioned earlier, it could very well be because the shorts are finally starting to close.
There seems to be a lot of data due out this week which could have quite an impact (positive I hope) on the share price including Amazons figures out on Wednesday I think it is, also if the FED only raise rates by 0.25% this week the feeling is that it could signal the start of a new bull market as it will be considered that interest rates will be near their peak - if inflation also continues to go down then the share price will really start its recovery - fingers crossed anyway.
I got a friends of mine to buy in at £6.06 a while ago - their first experience of buying shares themselves - they're hovering their fingers over the sell button at the moment and I'm telling them to wait as I think the share price is only just now on its upward trajectory.
Unfortunately I didn't - I saw the dip late this morning but thought with all the doom and gloom over in the States that the share price would dip a little more - nice to see a huge rise though. Hopefully there'll be a dip tomorrow so I can buy back in then.
I never do that Moniman - I am a big fan of ASC and have been trading them for years - I only mentioned that I sold as I thought I saw a "spike" but I may have been wrong - just being cautious because of US futures.
I agree in respect of broker notes but as seen yesterday the impact of any comments can have an effect on a share price both negative and positive. It makes me suspicious of the reasons for such a rating and the timing of it - there's someone either seriously selling or buying shares here and I think that's why the share price is where it is - there were 2 late trades of £11m and 2 of £3m posted on Tuesday but you couldn't tell which it was - my suspicion is they were buys and the share price has been dropped to allow for the big purchases.
The chief european economist for Bloomberg has just said they are expecting inflation to drop to 3% by the end of the year and that they are no longer forecasting for any recession. Hopefully as the year progresses and there are more signs of this coming to fruition we should start to see more sustained increases in the share price here.
The chief european economist for Bloomberg has just said that they are expecting inflation to drop to 3% by the end of the year and they've taken out the prospect of a recession - so news/confidence just needs to start filtering through and the share price here should bounce back quite heavily I should expect.
Of course they've been spot on with their targets - were recommending the share last year as something like outperform with a target of £17 when the share was £8.
In respect to bottom of the market - anyone following Bloomberg (which I do) they forecast that the market would bottom on 19/10 - I think OCDO hit their bottom a few days before.
Is when the share price hit £76.14 - don't know how that would work out in todays terms given the fund raise a few years ago but since I've been following them they've hit the £70's twice.
You can get the information from clicking on the share price chart on here.
This morning have said that they think the UK markets have passed "peak pessimism" so hopefully that bodes well for the whole UK market. In addition, they think todays rise is because of one line in the earnings update in that Asos expect a strong rebound from H2 2023. Bloomberg have also been talking generally about the fact that people are still out there spending.