Personal Assets Trust Plc and unwanted fireworks

 #Gold #SP500

Around 1am, it’s possible to draw the most absurd similes. When PNL.L did their 1:100 share split at the start of August, we suspected fireworks may be coming in the future. Accidentally inventing indoor fireworks wasn’t a consideration but at 1am, with tiny balls of blue flame flying around the lounge, PNL somehow came to mind as being due a glance.

Our unexpected light show came from a homemade methanol heater concept, one of these ridiculous things which seemed like a good idea at the time. Sometimes, the effort to wind down after a day watching the markets and an evening writing about them, can involve being a little silly but the homemade heater was proving fascinating. And with all projects, it’s never going to be finished as constant tweaks are required.

 

By 1am, the western markets closed and futures essentially pretending to move thanks to this week being Thanksgiving, it was obviously time to try a new cunning plan with the wick for the heater. To explain, the wick, the bit you light to get heat, is quite recessed within a 5mm slot and tonight’s good idea involved creating a simple fuse, using a tail of long wick material which was clamped within the 5mm slot. Due to repeat experiments, lots of strips of the carbon felt used for a wick were lying outside on the patio table, essentially off-cuts. An ideal length, slightly damp from the Scottish mist, was selected, surely able to dry quickly in the heat. It was soaked in methanol, securely jammed in the narrow slot. All other components had been tested and there was no reason to worry about lighting this flammable strip.

The flame danced quite neatly up to the stove, then raced around within the recess in a spectacular display of a flame chasing itself in a circle.

And then the little stove blew up, roughly 100ml of methanol fuel going everywhere in droplet form as it sprayed through the stainless steel mesh ‘safety’ cover.

Somehow or other, I didn’t panic as “It is ONLY methanol”. Pretty blue droplets were now burning on the carpet, the book case, my hand, the ceiling, one even close to a dogs paw. The smoke alarm continued sleeping thankfully as it’s doubtful my wife’s sense of humour would extend to this little accident. Literally within a minute, all flames were extinguished aside from those trapped in the spill tray below the stove, an utterly essential component for reasons which rapidly became obvious.

Not a single trace of the disaster remained, the only problem being the cause.

Once market futures were dealt with on Tuesday morning, a quick test of a theory – this time in the garden – confirmed using a wet wick wasn’t a great idea. Either it had ignited gasses in an enclosed space or, the addition of 2 parts of hydrogen and 1 part of Oxygen (H2O – aka water) to methanol created a seriously spectacular indoor firework.

 

Personal Assets Trust indulged in the kind of share split we like, giving investors 100 shares for every one they hold. In US markets and, to a lesser extent the UK, invariably this form of split is good news for a share price in the longer term, justifying a fireworks display. However, in the case of PNL currently, there’s a reason for some slight concern. An annoying dip on October 13th took their share price below the Red uptrend, something we dislike as this sort of nonsense can often signify early warning for trouble.

Currently, below 465p threatens reversal to 454p initially with secondary, if broken, a hopefully trampoline bottom at 437p.

However, we’re mildly fascinated at the reverence being paid to Red on the chart and wonder if the share price is simply marching on the spot, awaiting some news the market shall deem important. This being the case, above just 482p should prove capable of a lift to an initial 494 with secondary, if bettered, a longer term 525p and a new all time high.

 

FUTURES

Time Issued Market Price At Issue Short Entry Fast Exit Slow Exit Stop Long Entry Fast Exit Slow Exit Stop Prior
9:25:47PM BRENT 87.03 82.21 81.22 79.8 84.32 87.47 89.14 91.45 86.25 Success
9:27:42PM GOLD 1739 1735 1730 1725 1742 1747 1752 1759 1743 ‘cess
9:30:07PM FTSE 7406 7362 7353 7332 7392 7417 7430 7460 7392 ‘cess
9:31:54PM STOX50 3924.4 3893 3889 3873 3911 3926 3935 3949 3901
9:33:45PM GERMANY 14414 14319 14312 14259 14364 14433 14475 14527 14393
9:35:34PM US500 3950.87 3930 3923 3902 3956 3962 3972 3986 3938 ‘cess
9:37:32PM DOW 33707.4 33554 33471 33338 33687 33864 33896 34010 33670
9:39:26PM NASDAQ 11564 11514 11453 11335 11616 11668 11724 11794 11547 ‘cess
9:41:14PM JAPAN 28042 27832 27819 27730 27967 28086 28105 28196 27981

 

21/11/2022 FTSE Closed at 7376 points. Change of -0.12%. Total value traded through LSE was: £ 4,929,378,651 a change of -6.71%
18/11/2022 FTSE Closed at 7385 points. Change of 0.53%. Total value traded through LSE was: £ 5,283,705,968 a change of 16.51%
17/11/2022 FTSE Closed at 7346 points. Change of -0.31%. Total value traded through LSE was: £ 4,534,930,132 a change of -10.24%
15/11/2022 FTSE Closed at 7369 points. Change of -0.22%. Total value traded through LSE was: £ 5,052,481,735 a change of -8.73%
14/11/2022 FTSE Closed at 7385 points. Change of 0.92%. Total value traded through LSE was: £ 5,535,819,308 a change of -22.5%
11/11/2022 FTSE Closed at 7318 points. Change of -0.77%. Total value traded through LSE was: £ 7,142,834,234 a change of 9.63%
10/11/2022 FTSE Closed at 7375 points. Change of -100%. Total value traded through LSE was: £ 6,515,510,532 a change of 0%

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.

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.

If you want to ask a question about something Market Related intraday, don’t hesitate to email private.client@trendsandtargets.com. If something has gone volatile and a quick answer is needed, we’ve probably already run the numbers on it. As you’ll appreciate, we try and avoid spamming people needlessly.

Section One – Outlook Updated Today. Click here for Section Two – Outlook remains valid stocks

Click Epic to jump to share: LSE:CBX Cellular Goods** **LSE:EZJ EasyJet** **LSE:IQE IQE** **LSE:NG. National Glib** **LSE:OPG OPG Power Ventures** **LSE:TSCO Tesco** **

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Updated charts published on : Cellular Goods, EasyJet, IQE, National Glib, OPG Power Ventures, Tesco,

LSE:CBX Cellular Goods. Close Mid-Price: 1.45 Percentage Change: -3.33% Day High: 1.5 Day Low: 1.45

If Cellular Goods experiences continued weakness below 1.45, it will invariably lead to 1.40 with secondary (if broken) at a longer term 0.30p. The share requires to sneak ABOVE 2.65 to improve acceleration toward an initial 3.3p with secondary (if initial bettered) at 4.5p.

Previous Report:

21/09/2022 All Cellular Goods needs are mid-price trades ABOVE 2.65 to improve acceleration toward an initial 3.3p with secondary (if initial bettered) at 4.5. The price would require to slip BELOW 1.5 for panic as there remains the risk of an eventual trip to 0.30p. However, this looks increasingly unlikely.

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View Previous Cellular Goods & Big Picture ***

LSE:EZJ EasyJet Close Mid-Price: 388.1 Percentage Change: + 0.05% Day High: 389.9 Day Low: 371.4

Continued weakness against EZJ taking the price below 371.4 calculates as leading to an initial 318 with secondary (if broken) at a longer term 255 and hopefully a bottom. The share requires to move ABOVE 428, the share should experience improved acceleration toward an initial 534 initially with secondary, if bettered, at 751.

Previous Report:

17/11/2022 Weakness on EasyJet below 378.9 will invariably lead to 318 with secondary (if broken) at a longer term 255 and hopefully a bottom. The share requires to move ABOVE 428, the share should experience improved acceleration toward an initial 534 initially with secondary, if bettered, at 751.

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View Previous EasyJet & Big Picture ***

LSE:IQE IQE Close Mid-Price: 48.9 Percentage Change: + 0.31% Day High: 50.2 Day Low: 48.3

Continued trades against IQE with a mid-price ABOVE 50.2 should improve the share value to firstly 54.50p next with secondary, if bettered, a visually plausable 59p. The price needs below 33 for concern, suggesting a reversal cycle to 25p.

Previous Report:

15/11/2022 In the event of IQE enjoying further trades beyond 49.9, the share should experience improved acceleration toward an initial 54.50p next with secondary, if bettered, a visually plausable 59p. The price needs below 33 for concern, suggesting a reversal cycle to 25p.

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View Previous IQE & Big Picture ***

LSE:NG. National Glib Close Mid-Price: 1032 Percentage Change: + 1.43% Day High: 1031.5 Day Low: 1015

Further movement against National Glib ABOVE 1031.5 should improve acceleration toward an initial 1035 with secondary, if bettered, at 1089p. The share would require to weaken BELOW 844, it will invariably lead to 836 with secondary (if broken) at a longer term 781p.

Previous Report:

10/11/2022 Continued trades against NG. with a mid-price ABOVE 1024 should improve the share value to firstly 1035 with secondary, if bettered, at 1089p. The share would require to weaken BELOW 844, it will invariably lead to 836 with secondary (if broken) at a longer term 781p.

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View Previous National Glib & Big Picture ***

LSE:OPG OPG Power Ventures Close Mid-Price: 7.05 Percentage Change: + 0.71% Day High: 7.25 Day Low: 7

All OPG Power Ventures needs are mid-price trades ABOVE 7.25 to improve acceleration toward an initial 7.9 with secondary, if bettered, working out at 8.7p.

It would require trading BELOW 5.76, it will invariably lead to 5.6p with secondary (if broken) at a longer term 5p.

Previous Report:

29/07/2022 In the event of OPG Power Ventures enjoying further trades beyond 7.2, the share should experience improved acceleration toward an initial 7.9 with secondary, if bettered, working out at 8.7p.

It would require trading BELOW 5.76, it will invariably lead to 5.6p with secondary (if broken) at a longer term 5p.

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View Previous OPG Power Ventures & Big Picture ***

LSE:TSCO Tesco Close Mid-Price: 232 Percentage Change: + 0.30% Day High: 233 Day Low: 229.7

Further movement against Tesco ABOVE 233 should improve acceleration toward an initial 243 next with secondary, if bettered, now working out at 259p. If needs below 223 for concern, giving the potential of weakness to 192 with secondary, if broken, at 157

Previous Report:

08/11/2022 Target Met. Movement now above 231 calculates with the hope of 243 next with secondary, if bettered, now working out at 259p. If needs below 223 for concern, giving the potential of weakness to 192 with secondary, if broken, at 157

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View Previous Tesco & Big Picture ***

*** End of “Updated Today” comments on shares.

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