#FTSE #Brent Stabilisation through Manipulation and Propagandisation. Okay, we’re not sure of the last word but it’s becoming clear the US and Iran want the price of oil stabilised around the $100 mark, rather than retreating by around 50% to the level it should really be at. When President Trump rejected Irans 12 point peace plan, it was only a matter of hours before the US submitted another peace plan, Iran scheduled to reject it shortly thereafter. And of course, the US would issue a response to Iran’s response, further solidifying the current hiatus which the oil price “enjoys”. The primary imperative from politicians is to maximise oil production revenues, continue a propaganda blame game, and to heck with how economies and the public are being financially harmed.
We wonder if the current UK Prime Minister has a chart he can access before entering a room, one which shows the number of friends he can expect as opposed to the number of folk who think he lacks ethics and is essentially a ‘chancer’, one who makes his awful predecessor (Boris) appear quite skilled. Unfortunately, despite it looking like an Endgame has commenced for his time at the political trough, none of the candidates to replace him would pass an audition for the auditions for Britain’s Got Talent. Most appear to have adhered to the current PM’s employment model of falling upward, being rubbish at one job, so promoted to the next level and forever upward, despite failing at every position. The recent excuse for Mandeleson being “information about vetting did not cross my desk” was familiar, a similar reason previously given for Saville, Grooming Gangs, Big Cyril, etc when he headed up Public Prosecutions. In fact, he was even Knighted for his performance in such a position. It’s easy to conclude ‘Management by Not Rocking The Boat’ generally turns out to be incompetence – at best! Or perhaps be insists on an extremely small desk.
Current political manoeuvres, designed to protect an artificial oil price level, are tending to fuel (free fuel…) anger against politicians and this is a bombshell we suspect is slowly heading home to roost in various Middle East countries, along with the USA and Europe. The fallout is going to be fascinating, when this self propelled idiocy detonates. Unless, politicians realise what’s coming and decide to heat up the “war” over the Straits.
In other news, last Friday saw a return of The Gaza Strip marathon, attracting around 13,000 runners who had survived ‘starvation & genocide’ apparently. Days previously, the media were assuring everyone folk in Gaza didn’t have food but suddenly, the media had to present a different type of propaganda. They barely covered the short 5k race and ignored the fact many women were running without head covering, simply enjoying the event. To be honest, this 5k “marathon” would be my type of race, my previous evening jog a strict 4 mile (6.5km) punishment exercise regardless of weather. Of course, nowadays, thanks to a chemo side effect which trashed my heart, neither skiing, skating, jogging, cycling, or swimming is recommended, Thankfully, dog walking remains on the happy list. The funny thing, I hated my evening runs and would give anything to do them again, without worrying a fairly major organ would simply stop. However, for this year, I now have a kayak and the cardiac people say it should be okay as long as I don’t over exert myself. Outside our home in Argyll, there are a series of piers, each EXACTLY two miles apart. If I do this right, I shall have a 12 mile circuit to cover every evening with a half way coffee from a lovely cafe 6 miles along the shore. Hopefully the weather contributes to the cunning plan.
As for Telecom Plus, their share price allows us to introduce a “back to school” presentation with some fuel for thought.
From viewing the Closing Prices above, along with daily CANDLE movements, the two charts give a strong impression the share price has found a bottom at the 1,000p level. There’s certainly a suggestion taking a Long position at 10 quid would make a lot of sense but we’ve some doubts.
Firstly, the 10 quid level was broken intraday last Wednesday (998p) and secondly, we’ve extreme distrust about such a visually solid presentation. We expect the worst and worse, there are a collection of “worsens” residing on the chart below.
Below 998p risks triggering reversal to an initial 828p with our secondary, if broken, calculating at 808p. With the close proximity of these two drop target levels, it certainly would be reasonable to anticipate a bounce if such a target appears. However, something worth remembering is a Big Picture calculation, one which shows the share price is already stumbling downward to an eventual 630p along with a potential strong bounce.
We really dislike visuals which spoon feed an artificial presentation of reality, such as a “floor” at 10 quid. In the marketplace, there’s no such thing as a Floor or Bottom, only the point at which a share price chose to discover some strength.
Should Telecom Plus decide to exhibit some strength, above 1232p is needed to impress anyone as this would make a visit to an initial 1637p look viable with our secondary, if bettered, at 1,864 along with almost certain stutters. For now, we fear the worst.
FUTURES
FUTURES
| Time Issued | Market | Price At Issue | Short Entry | Fast Exit | Slow Exit | Stop | Long Entry | Fast Exit | Slow Exit | Stop | Prior |
| 10:39:46PM | BRENT | 10211 | 10052 | 10009 | 9792 | 10239 | 10371 | 10463 | 10818 | 10210 | |
| 10:42:40PM | GOLD | 4741.5 | 4648 | 4636 | 4600 | 4682 | 4748 | 4762 | 4800 | 4708 | |
| 10:49:16PM | FTSE | 10245.8 | 10219 | 10196 | 10165 | 10252 | 10288 | 10312 | 10354 | 10241 | |
| 10:52:04PM | STOX50 | 5891.1 | 5868 | 5808 | 5723 | 5892 | 5939 | 5966 | 5999 | 5908 | |
| 10:54:18PM | GERMANY | 24299.8 | 24205 | 24161 | 24091 | 24299 | 24371 | 24416 | 24488 | 24307 | |
| 11:07:02PM | US500 | 7419.5 | 7378 | 7365 | 7344 | 7396 | 7431 | 7441 | 7454 | 7411 | ‘cess |
| 11:14:46PM | DOW | 49738.9 | 49459 | 49380 | 49250 | 49601 | 49740 | 49775 | 49910 | 49697 | Shambles |
| 11:17:05PM | NASDAQ | 29340.1 | 29134 | 29039 | 28928 | 29208 | 29372 | 29442 | 29522 | 29320 | |
| 11:20:28PM | JAPAN | 62994 | 62400 | 62193 | 61662 | 62676 | 63110 | 63392 | 63757 | 62859 |