#Marlowe #Gold Last month when we reviewed Gold, we gave an immediate target of 2480 dollars with our secondary, if bettered, at $2500. We noticed the metal surged upward again on Monday, reaching 2450. It’s certainly in the ballpark of where conventional market behaviour would anticipate some hesitation but once again, we shall reiterate our warning where we don’t expect the markets to hand out the free gift of a short position by the $2500 level. It will therefore prove wise to watch for the metal being “gapped up” as this shall imply the market retains ambitions above $2500. Already, it started this week being gapped up by 6 dollars at the market open, so we’re already understandably curious.
From watching Clarkson’s Farm, Jeremy continues to display a fond affection for Government regulations, along with Health & Safety rules. In probably every industry (except politics), the plethora of self justifying rules from government make life difficult and it’s no surprise this has given birth to specialist companies such as Marlowe, describing themselves as providing a broad range of compliance software and services in areas which pose a high risk for businesses. It’s easy to regard this new compliance industry as filling a niche market, thanks to government interference, but unsurprisingly, many folk in farming, building, oil, woodwork – in fact any industry with a manual labour presence – concede regulations do have positive effects. It was once the case where it was virtually impossible to gather a bunch of folk together for a tea break and not notice several missing fingers, walking with limps, or sporting scars. It was simply accepted as a risk of the job but nowadays, it’d be difficult to spot these type of injuries as they are thankfully no longer common.
Once, I managed to insert myself into a major fire in a motor trade outlet. I was at their parts department, working out a stock control system, and the job felt it was going to last forever. As a result, now on first name terms with everyone, when an apprentice called Kevin appeared at the workshop hatch and yelled “Welding Plant”, in the absence of the parts department staff I wandered over to explain everyone was out, some collecting parts, some skiving doing the lunch run to a local cafe.
“Tommy sent me round for the Oxyacetylene trolley,” he said. I was aware of the rules and decided to help out, signing the plant out and noting down the job number. When the manager appeared, I advised him of the only interesting thing which had happened, receiving a thanks in return.
And then all hell broke loose, lots of shouting, lots of people running. Being a young curious moron, it obviously made sense to try and find what was going on and a glance into the workshop showed a vista of hell. A yellow vehicle, a Lotus I think, was on fire, suspended on a car ramp. Burning fuel was flowing downward, around the welding plant, and making its was along a shallow drain, common in workshops to trap oil. The workshop manager appeared, asking me to ensure someone had called the Fire Brigade. So I ran round to the petrol station and used the phone in the shop, unfortunately not knowing the full address but the 999 operator was confident the fire units would find the rather well known dealership. She even intoned the company advertising jingle, such was her confidence.
Returning to the workshops, everyone was enjoying the view of cars going up like firecrackers, a total of 7 vehicles being destroyed. It transpired Tommy the mechanic had decided to join the lunch run to the cafe, using his car rather than letting the parts department gofer walk. Kevin, the apprentice, got bored waiting and decided he could apply sufficient heat to a seized joint on Lotus suspension, the fibre class car deciding it didn’t like naked flames. And while all hell was breaking loose, no-one thought to turn off the petrol pumps as we were all entranced by the sound of fire engines coming closer, then getting further away as they circled the garage like seagulls waiting for food to drop. All things considered, no-one was hurt, the gas bottles didn’t explode, and after a few weeks the workshops were back in action.
Nowadays, things are different and I’d probably have found myself in court for giving a 16 year old Oxyacetylene gas bottles. And quite why it didn’t occur to anyone to turn off the petrol pumps remains a puzzle. Perhaps had there been injuries, the legal side of things may have kicked in but apparently, every single customers first words on hearing of the disaster to their car was along the lines of “is everyone okay?” Times have changed and mostly for the better as that garage would now do fire drills, have emergency procedures, proper fire fighting equipment and a head count. The initial panic among the spectators when Tommy couldn’t be seen was quickly calmed, when he drove up with lunch. This workshop had a Fire Extinguisher corner, along with a hose. Due to the fire, it was ironic neither could be reached.
In other words, there’s definitely ample justification for a company like Marlowe and their share price is showing early signals it may be about to do something useful.
Traditionally, we like Gap Downs followed by a Gap Up and Marlowe appear to have achieved an (almost) textbook example. The initial Gap Down in November last year breached the immediate Red uptrend. And then, in February this year, the Gap Up breached the share price downtrend in Blue. Typically, we get quite excited with a confirmed GaGa movement and this one is so perfect we almost distrust it.
If we’re strict, we’re supposed to breathlessly announce above 577p should now trigger movements to an initial 726p with secondary, if bettered, at a future impressive 916p. In fact, our in-house conventional GaGa rules say we should safely announce it’s heading to 916p, regardless of trigger levels. Thankfully, we’re cowards and like that workshop fire back in the day, there may be something important we’ve missed. Are the company about to visit Clarkstons Diddly Squat Farm, joining his Local Council and becoming a nationally hated victim of the excellent show on Amazon? For now, we’re inclined to keep an eye on them
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:13:36PM | BRENT | 8349.4 | ‘cess | ||||||||
| 10:16:30PM | GOLD | 2425.56 | 2408 | 2398 | 2380 | 2438 | 2452 | 2461 | 2523 | 2428 | ‘cess |
| 10:18:43PM | FTSE | 8401.3 | |||||||||
| 10:20:48PM | STOX50 | 5061.5 | |||||||||
| 10:22:47PM | GERMANY | 18736.7 | ‘cess | ||||||||
| 10:24:48PM | US500 | 5308.7 | 5302 | 5296 | 5286 | 5315 | 5322 | 5329 | 5344 | 5316 | |
| 10:27:22PM | DOW | 39806 | Shambles | ||||||||
| 11:02:39PM | NASDAQ | 18656 | |||||||||
| 11:07:18PM | JAPAN | 39228
|
‘cess |
20/05/2024 FTSE Closed at 8424 points. Change of 0.05%. Total value traded through LSE was: £ 4,472,630,359 a change of -22.38%
17/05/2024 FTSE Closed at 8420 points. Change of -0.21%. Total value traded through LSE was: £ 5,762,302,042 a change of 1.63%
16/05/2024 FTSE Closed at 8438 points. Change of -0.08%. Total value traded through LSE was: £ 5,669,902,118 a change of -17.37%
15/05/2024 FTSE Closed at 8445 points. Change of 0.2%. Total value traded through LSE was: £ 6,861,663,966 a change of 1.88%
14/05/2024 FTSE Closed at 8428 points. Change of 0.17%. Total value traded through LSE was: £ 6,735,233,272 a change of 43.21%
13/05/2024 FTSE Closed at 8414 points. Change of -0.23%. Total value traded through LSE was: £ 4,703,191,844 a change of -3.6%
10/05/2024 FTSE Closed at 8433 points. Change of 0.62%. Total value traded through LSE was: £ 4,878,616,617 a change of -3.08% 
SUCCESS above means both FAST & SLOW targets were met. ‘CESS means just the FAST target met and probably the next time it is exceeded, movement to the SLOW target shall commence.
Our commentary is in two sections. Immediately below are today’s updated comments. If our commentary remains valid, the share can be found in the bottom section which has a RED heading. Hopefully, this will mean you no longer need to flip back through previous reports. HYPERLINKS DISABLED IN THIS VERSION
Please remember, all prices are mid-price (halfway between the Buy and Sell). When we refer to a price CLOSING above a specific level, we are viewing the point where we can regard a trend as changing. Otherwise, we are simply speculating on near term trading targets. Our website is www.trendsandtargets.com.
UPDATE. We often give an initial and a secondary price. If the initial is exceeded, we still expect it to fall back but the next time the initial is bettered, the price should continue to the secondary. The converse it true with price drops.
We can be contacted at info@trendsandtargets.com. Spam filters set to maximum so only legit emails get through…
Section One – Outlook Updated Today. Click here for Section Two – Outlook Remains Valid shares
Click Epic to jump to share: LSE:FRES Fresnillo** **LSE:GLEN Glencore Xstra** **LSE:HL. Hargreaves Lansdown** **LSE:IGG IG Group** **LSE:IQE IQE** **LSE:LLOY Lloyds Grp.** **LSE:OXIG Oxford Instruments** **
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Updated charts published on : Fresnillo, Glencore Xstra, Hargreaves Lansdown, IG Group, IQE, Lloyds Grp., Oxford Instruments,
LSE:FRES Fresnillo. Close Mid-Price: 639.5 Percentage Change: + 3.98% Day High: 647.5 Day Low: 628
Target met. Continued trades against FRES with a mid-price ABOVE 647.5 sh ……..
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LSE:GLEN Glencore Xstra. Close Mid-Price: 501.5 Percentage Change: + 0.91% Day High: 505.6 Day Low: 498.45
Target met. In the event of Glencore Xstra enjoying further trades beyond ……..
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View Previous Glencore Xstra & Big Picture ***
LSE:HL. Hargreaves Lansdown Close Mid-Price: 895.6 Percentage Change: -0.33% Day High: 908.4 Day Low: 893.6
In the event of Hargreaves Lansdown enjoying further trades beyond 908.4, ……..
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View Previous Hargreaves Lansdown & Big Picture ***
LSE:IGG IG Group. Close Mid-Price: 800 Percentage Change: + 0.06% Day High: 802.5 Day Low: 797
Continued trades against IGG with a mid-price ABOVE 802.5 should improve ……..
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View Previous IG Group & Big Picture ***
LSE:IQE IQE. Close Mid-Price: 36.15 Percentage Change: + 7.91% Day High: 35.95 Day Low: 33
Target met. Continued trades against IQE with a mid-price ABOVE 35.95 sho ……..
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View Previous IQE & Big Picture ***
LSE:LLOY Lloyds Grp.. Close Mid-Price: 56.2 Percentage Change: + 1.22% Day High: 56.3 Day Low: 55.68
Further movement against Lloyds Grp. ABOVE 56.3 should improve accelerati ……..
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View Previous Lloyds Grp. & Big Picture ***
LSE:OXIG Oxford Instruments. Close Mid-Price: 2480 Percentage Change: + 0.81% Day High: 2560 Day Low: 2440
Target met. Further movement against Oxford Instruments ABOVE 2560 should ……..
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View Previous Oxford Instruments & Big Picture ***