I try to test this circuit and I get the following behaviour:
a. with MOSFET gate floating the voltage at the input propagates to the output with some delay.
b. with 12V on MOSFET gate the voltage at the input propagates to the output fast like a follower.
c. With -12V on MOSFET gate I get the Hold function for voltages below the "hold" voltage but when I raise the voltage to a higher level it still propoagates (no hold). It works like a "max" value circuit. What I am doing wrong?
I have ommited the 10k to the output and the 10k pot between 741 offset pins. for N-channel enhancement i use a 2n7000 and a BS170 (this works in reverse propagates with negative voltages)
edit: after following suggestions in comments i have used a tl082 instead of 741 and 2 mosfets back to back with their base shorted and now the circuit holds ok in both directions.