Viewing Year: 1945

Tabell’s Market Letter – February 15, 1945

Tabell’s Market Letter – February 15, 1945

Tabell's Market Letter - February 15, 1945 page 1
Tabell's Market Letter - February 15, 1945 page 2
View Text Version (OCR)

To be transcribed later J, ,'-.-' -2- Allieu Chemical Allis Chalmers American Bank Note Amer. Car & Foundry Amer.Pr. & Lt. 5 pfd. Arner.Pr. & Lt. 6 pfd. Anaconda Wire Atlantic Coast Line Barber Asphalt Black & Decker Cities Service Commercial Solvents Delaware & Hudson Distillers Seagram DoVl Chemical General Precision Equip. Great pfd. Hercules Motors Illinois Central Lima Locomotive LiqUid Carbonic Motor Wheel Newport Industries Pere Marquette pfd. A. ,0. Smith Southern Pacific Southern Railway Worthington Pump Da1;e Recommended Dec. 9 Dec. 20 Dec. 18 Dec. 20 Dec. 13 Dec. 13 Dec. 6 Sept.18 Dec. 6 Sept.18 Dec. 9 Sept.lS Dec. 9 Dec. 13 Dec. 20 Sept.18 Sept.lS Sept.18 Sept.18 Sept.18 Sept.18 Sept.18 Sept.lS Sept.lS Sept.18 Sept.18 Dec. 6 Sept.18 Price Recommended 153 37 7/1', 20 3/8 39 7/8 51 58 3/4 36 1/2 36 3/8 21', 21 1/2 14 5/1', 15 1/2 30 1/4 36 111', 1/2 22 37 1/2 21 1/4 15 3/8 38 1/4 27 1/4 20 1/2 17 7/1', 44 1/2 35 3/4 27 1/4 31 3/8 29 5/8 Thursday's Close 157 39 7/8 22 40 5/8 59 3/8 65 39 3/1', 52 3/4 30 5/8 23 3/4 17 165/8 .38 1/8 39 3/4 122 7/8 23 1/2 49 7/8 24 1/2 23 1/8 50 1/4 30 1/8 24 5/1', 19 5/1', 69 52 1/2 42 3/4 35 5/8 38 3/4 Points Profit 4 2 1 5/8 3/4 1', 3/8 6 3/4 2 7/1', 16 3/1', 2 5/8 2 1/4 2 3/8 1 1/1', 7 7/8 3 3/4 4 3/1', 1 1/2 12 3/8 3 1/4 7 3/4 12 2 7/8 4 1/8 1 3/4 24 1/2 16 3/4 15 1/2 4 1/4 9 1/8 EDMUND VI. TABELL SHIELDS & COMPANY The expressed in this letter are in the personal interpretation of charts by Mr. Edmund W. Tabell and are not presented as the opinions of Shields & Company.

Download PDF

Tabell’s Market Letter – February 26, 1945

Tabell’s Market Letter – February 26, 1945

Tabell's Market Letter - February 26, 1945
View Text Version (OCR)

February 26, 1945 TECHNICAL MARKET ACTION Cities Service common closed at 19 5/8 on Monday after reaching a low of 19 during the day. The stock has a most interesting technical pattern. After reaching a low of 2 1/8 in 1942, Cities Service advanced sharply to above 18 in July of 1943. Then for an eighteen month period from July 1943 to January 1945, the stock held in a broad trending range between roughly 18 and 10 1/2, with most of the time spent in the 17-13 area. The upside penetration of this long trading range early this month was a very bullish technical signal. It indicated that this area was a re-accumulation zone with a base count indicating substantially higher levels over the intermediate term. On reactionary phases in the general market, excellent support should be met off the top of the old trading range at the 18-17 1/2 level. Cities Service reached a high of 21 1/4 in February and at Mondays low of 19 had reacted over two points. The writer believes that Cities Service is in a buying range in the 20-18 area. The stock has had a drastic decline from the 1929 and 1936-37 tops. The present stock is a 1 for 10 split of the original stock. On an adjusted basis, the present stock sold at a high of 681 in 1929 and 73 3/4 in 1936-37. While Cites Service common is an extremely speculative vehicle (with large arrears on the preferred issues ahead of the common), the stock from a technical viewpoint, warrants purchase for ultimately higher levels. The market continues to meet resistance in the 158-160 area of the industrial average. After the sharp runup of recent weeks, it is only normal that at least a consolidating period should occur at around present levels. Expect the market to remain in a range bounded by 163-167 on the top and 155 on the bottom. Would sell at the upper limits of the range and buy on price recessions to the lower limits. Individual issues should continue to feature the market. EDMUND W. TABELL SHIELDS & COMPANY The opinions expressed in this letter are the personal interpretation of charts

Download PDF

Tabell’s Market Letter – March 05, 1945

Tabell’s Market Letter – March 05, 1945

Tabell's Market Letter - March 05, 1945
View Text Version (OCR)

March 5, 1945 TECHNICAL MARKET ACTION The major or long; term trend of the market is definitely upward and technical indicators point to an eventual attainment of a price level somewhere between the 1929 end 1937 highs. This indication is confirmed by all three of the Dow-Jones averages end by the New York Herald-Tribune The New York Times average is the only average that has not as yet confirmed the of 0. major advance. However, the action of the other averages, plus the technical formations of individual stocks, furnish sufficient technical evidence to assume a rising market as far as the major trend is concerned. Longer term investors should maintain a 100 invested position, ignoring intermediate corrections. The intermediate trend pattern is not quite as clear. Base count indications have been reached or passed in most of the averages and the next area of resistance is the 163-167 zone. As yet, no important top or distribution areas have been outlined. On the downside, the 156-155 area should be a rather firm support level. Thus, the pattern indicates the possibility of a rather wide trading range bounded roughly by the extremes of 155 and 165. Would be inclined to lighten trading accounts as the upper limits of the range are approached. However, at this stage of the advance, would be inclined to watch the action of individual issues rather than the market averages. Still advise a 75 invested position in intermediate trading accounts with a reduction to 50 as the upper limit of the 165-155 area is approached. Retention of recommended issues is advised until the indicated individual prices outlined in previous letters are reached. EDMUND W. TABELL SHIELDS & COMPANY The opinions expressed in this letter are the personal interpretation of charts by Mr. Edmund W. Tabell and are not presented as the opinions of Shields & Co.

Download PDF