#Gold #DOWJONES Our last review of this was around 3 weeks ago, yet a bunch of emails asking for an update arrived. The issue is, against our expectations, the share price triggered a reversal cycle, hitting then breaking our secondary drop target of 911p. Like everyone, we like the 911 but this particular price level broke without too much fuss a couple of days ago. Perhaps we have a bias which favours the 911p level.
At around 21 years old, the writer purchased a Porsche 911, a yellow car which had just about everything wrong except the price. Back then, spending £2000 on a terrible car was quite a waste of money, especially as I was earning just £1.50 per hour working for my notoriously parsimonious family business. On the bright side, I had full access to workshops, full access to a body shop, free insurance and fuel, free servicing, and perhaps critically, I had created the busiest Scottish parts department for our franchise, other dealers often choosing to order from us rather than the importers in Luton. In my defence, being mechanically trained made a heck of a difference and it was fairly easy to spot a trend of things failing on vehicles, working on the basis everyone would soon be needing “wiper motors”, “cam chains etc”, or headlamps loosing their reflectivity! The last one was a favourite, no-one seeming capable of noticing the Fiat 7 inch headlamp was identical to the UK item fitted to Mini’s, Landrover, VW, Porsche, probably Shopping Trolleys if UK manufacturers could get away with it. We even sourced a fantastic product from Ferrari, a 7 inch lamp which could take two powerful halogen bulbs, totally illegal in the UK but very popular with our customers.
Long story short, by the time it was finished, my yellow 911 was now a black 911, complete with big spoiler and flared wheel arches, visually identical to a Porsche 911 Turbo. The car was a lot of fun and as a 21 year old, I was totally unworthy of it but enjoyed the jealousy of everyone else. Thankfully, no-one ran an audit on just how much was spent maintaining the car as I’d stretched “free servicing” to ridiculous levels. Our MD, fed up running around in a 3ltr Opel, had ordered something called a Panther J72, most folk assuming my clapped out Porsche provoked him. It is interesting to note, when I checked the MoT status of that 911 tonight, it’s still on the go somewhere in the UK, whereas the Panther doesn’t seem to exist… In fairness, that Panther J72 is probably living its best life outside the UK.
Anyway, this perhaps illustrates why a personal bias favouring the number 911 exists. And utter distaste for any number from Peugeot…
There’s little doubt DEC’s share price is misbehaving, something of a surprise for the company which is the Largest Owner of Oil Wells in North America. To be honest, they have form for buying oil wells at their end of life at a knock down price. The reason for the knock down price comes from the accepted cost of decommissioning an oil well but Diversified Energy claim to be substantially undercutting the price to shut everything off and make it safe. As a result, they are able to create “book” values which exceed their actual operational profit, simply by buying empty wells which need made safe. It creates a situation where the company have been showing something purchased for, ie; $10,000 as now worth $50,000, due to Diversified’s method of making the wells safe creating a valuable bank of land.
Earlier, we mentioned the break below 911 bothers us as it has created a situation where below 885 now calculates with the potential of reversal to an initial 758 with our secondary, if broken, at 608p and hopefully a proper bounce, despite 608 being a Peugeot number!
If things intend suddenly go right for Diversified, the share price needs currently exceed 983p to give some hope as recovery to an initial 1080 looks possible with our secondary, if bettered, at 1318p and the potential of a sea change in the companies fortunes.
Unfortunately, for now, any idea of “averaging down” looks fraught with danger
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 11:51:57PM | BRENT | 7721.9 | |||||||||
| 11:59:02PM | GOLD | 2497.27 | 2490 | 2488 | 2474 | 2501 | 2508 | 2514 | 2522 | 2498 | |
| 12:03:10AM | FTSE | 8364.8 | ‘cess | ||||||||
| 12:11:50AM | STOX50 | 4965.5 | ‘cess | ||||||||
| 12:16:17AM | GERMANY | 18915.4 | Success | ||||||||
| 12:20:00AM | US500 | 5644.5 | |||||||||
| 12:23:46AM | DOW | 41481 | 41425 | 41365 | 41292 | 41491 | 41565 | 41589 | 41738 | 41461 | |
| 12:26:18AM | NASDAQ | 19520 | |||||||||
| 12:30:01AM | JAPAN | 38746 |
2/09/2024 FTSE Closed at 8363 points. Change of -0.16%. Total value traded through LSE was: £ 3,270,019,742 a change of -47.48%
30/08/2024 FTSE Closed at 8376 points. Change of -0.04%. Total value traded through LSE was: £ 6,226,759,673 a change of 55.63%
29/08/2024 FTSE Closed at 8379 points. Change of 0.43%. Total value traded through LSE was: £ 4,000,918,799 a change of 4.23%
28/08/2024 FTSE Closed at 8343 points. Change of -0.02%. Total value traded through LSE was: £ 3,838,365,101 a change of -20.19%
27/08/2024 FTSE Closed at 8345 points. Change of 0.22%. Total value traded through LSE was: £ 4,809,416,803 a change of 12.18%
26/08/2024 FTSE Closed at 8327 points. Change of 0.47%. Total value traded through LSE was: £ 4,287,242,825 a change of -9.07%
22/08/2024 FTSE Closed at 8288 points. Change of -100%. Total value traded through LSE was: £ 4,714,962,713 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. 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:FOXT Foxtons** **LSE:GRG Greggs** **LSE:SBRY Sainsbury** **LSE:TERN Tern Plc** **LSE:TRN The Trainline** **LSE:TSCO Tesco** **
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Updated charts published on : Foxtons, Greggs, Sainsbury, Tern Plc, The Trainline, Tesco,
LSE:FOXT Foxtons Close Mid-Price: 62 Percentage Change: -1.90% Day High: 63.4 Day Low: 60.8
If Foxtons experiences continued weakness below 60.8, it will invariably ……..
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View Previous Foxtons & Big Picture ***
LSE:GRG Greggs Close Mid-Price: 3160 Percentage Change: -0.75% Day High: 3198 Day Low: 3146
In the event of Greggs enjoying further trades beyond 3198, the share sho ……..
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View Previous Greggs & Big Picture ***
LSE:SBRY Sainsbury. Close Mid-Price: 296 Percentage Change: + 1.23% Day High: 295.8 Day Low: 292.6
Target met. In the event of Sainsbury enjoying further trades beyond 295. ……..
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View Previous Sainsbury & Big Picture ***
LSE:TERN Tern Plc Close Mid-Price: 1.7 Percentage Change: -10.53% Day High: 1.9 Day Low: 1.6
Continued weakness against TERN taking the price below 1.6 calculates as ……..
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View Previous Tern Plc & Big Picture ***
LSE:TRN The Trainline. Close Mid-Price: 304.6 Percentage Change: + 1.53% Day High: 306 Day Low: 295.2
Target met. Weakness on The Trainline below 295.2 will invariably lead to ……..
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View Previous The Trainline & Big Picture ***
LSE:TSCO Tesco. Close Mid-Price: 356.1 Percentage Change: + 0.68% Day High: 356.9 Day Low: 353.3
Target met. All Tesco needs are mid-price trades ABOVE 356.9 to improve a ……..
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View Previous Tesco & Big Picture ***