Tabell’s Market Letter – November 21, 1947

Technical Market Action In yesterday's letter in which we listed a number of recommended issues in a major uptrend, there wes an unfortuncte error in transposition of columns. In copying from our letter of October 8th, containing a similar list, the closing prices of October 8th were listed under the column headed Origindly Recommended At and the originelly recommended prices were omitted. As these prices are importnnt in guuging issues that mey be behind the market, we (.re reprinting the letter with the correct figures. Plese disregerd the list contained in our letter of November 20th. REPRINT OF NOVEMBER 20th I.ETTER The majority of issues in our recomnended list are in a major uptrend of their own. These issues, unlike the general market aV6reges, have been able to penetrate their previous highs and have given individuel bull market signals. They were originally selected because their individual technical patterns showed sizeable accumulation bases and indicated substpntially higher levels over the months ahead. These patterns have in no wey been altered, in fact, they haVe been strengthened in many insteces. These issues heve been recommended over the past fourteen months. They are listt.d below togethr I.i th the last sale, original recor.tmendation 16vel and the apprOXir,lE.te long term objective as outlind by the technicr.l pattern. Obvioly, such advances will take considerable time to accomplish d will be interrupted by periods of hesitation end correction. …. B a r n s d a l l Bliss, E. w. Borg Warner Campbell, l..yant Chrysler – Cities Service Colorado Fuel & Iron Crown Cork & Seal Deere & Company Doebler, Jarvis Eagle Picher Elliott Company flintkote -GlilfOil -Houston Oil Interlake Iron Internetional Paper rnt.Minerals & Chern. Joy Manufacturing Mullins Menufacturing National Supply –Ohio Oil 'Oliver Corporation Pepsi Cola Phelps Dodge Rayonier – Seaboard Oil -Shamrocl Oil ShE.ron Steel '-Standard Oil of NJ. exas Pac.Coal & Oil Union Bag & Paper Union CE.rbide & Carbon Union Pacific United Aircraft U.S.& Foreign Sec. u. S. Pipe Westinghouse Air Brake Westinghouse Electric Wheeling Steel Youngstown Sheet & Tube Last ale 33 1/8 35 1/8 53 3/8 31 3/4 63 39 3/8 16 1/2 42 44 3/4 38 1/4 23 5/8 20 3/4 37 1/4 71 3/4 24 1/8 14 3/8 56 7/8 33 39 25 22 1/4 27 3/8 25 5/8 26- 48 30 7/8 343/4 29 3/4 36 1/2 76 1/8 41 3/4 34 1/8 105 1/2 155 1/4 23 1/4 21 3/4 44 3/4 35 5/8 28 5/8 50 1/8 78 1/2 Originally Recommended At 2l 20 – 18 44 24 – 22 40 – 42 28 12 – 10 35 – 33 38 24 19 19 1/2 32 – 30 60 17 – 15 12 – 10 51 1/4 26 – 24 37 1/4 19 3/4 15 – 13 23 – 2l 23 – 21 261/4 38 1/4 19 5/8 25 – 23 24 31 66 5/8 29 28 5/8 104 1/2 136 1/2 20 1/8 18 – 16 38 – 35 27 – 25 23 – 21 43 1/2 62 – 60 Approximate Long Term Objective 41 – 45 52 – 55 84 – 87 46 – 49) 88– 90, 62 – 65 31 60 – 63 82 69 – 75 37 – 39 46 – 50 57 – 60 86 – 89 40 21 84 – 86 r 60 – 62 64 J6 – 39 36 38 – 41 49 55 85 – 87 43 – 45 42 – 49 48 – 50 64 – 68 90 -100 59 67 – 69 150 196 , 32 – 37 70 – 75 54 – 58 40 – 46 95 140 November 21, 1947 EDMUND W. TABELL SHIELDS & COMPANY The opini'O' expressed in fhis letter ere the persofto!ll interpretation of chart, by Mr. Edmund W. label! and are not prosented LIS the opinions of Shields & Compny. -', i ! – – – —