Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
ASOS (ASC) got off lightly with its profits warning yesterday but as its PR and IR machine cranks up do not be tempted to bottom fish at £33 – this stock £70 not that long ago ) is heading lower still. £23 looks about right as an initial share price target.
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