Tabell’s Market Letter – November 10, 1949

Tabell’s Market Letter – November 10, 1949

Tabell's Market Letter - November 10, 1949
View Text Version (OCR)

TABELL'S MARKET LETTER 35 WALL STREET. NEW YORK 5. N. Y. Digby 4-4141 At some point along the line it would be normal to expect a more drastic correction of the thirty-three point advance from the June lows. So far the corrections have taken the form of consolidations fJllowed by a resumption of the advance. At the moment, there are no signs of either an overbought long or intermediate trend. The short term pattern is uncertain. I would be cautious as far as nw buying is concerned, particularly in speculative issues. ,. However, t lere seems no need to disturb long term holdings, except in cases where issues have advanced to a point where they have reached their approximate intermediate term objectives. Profit taking is suggested in four issues in our recommended list Borg \lTarner Inter.Min. & Chern. Niagara Hudson Pro Standard Steel Sp. Last Sale 51 3/1 32 3/4 15 1/8 18 3/8 Originally Recommended At 48 25 1/8 9 14 1/2 .. The balance of the list follows Better Grade Issues Last Price -Allis Chalmers American Cyanamid Amer.Home Products American News C1. '1'. Finane ial Commercial Credit Crown Zellerbach Endicott Johnson Federated Dept.Stores General Amer.Trans. Hewitt Robins Intertype Kresge S.S. McKesson & Robbins OtiS Elevator Phelps Dodge Shell 011 31 45 1/8 29 5/8 33 1/2 55 3/4 55 3/4 28 1/4 34 30 44 3/4 16 1/2 32 1/4 41 1/4 '39 1/2 36 1/2 46 3/4 39 3/8 Speculative Issues Last Price American Airlines American Pr & Lt Avco Corp Budd Company Carrier Corp Chic .Rock Is & P Combustion Eng Continental Baking Denver & Rio Grande Distillers Seagram Eastern Air Lines Illinois Central Lowenstein Penn-Dixie-Cement Pressed Steel Car RadioCorp Reynolds letals St. Regis Paper Schenley Shamrock Oil & Gas Studebaker Sunshine Mining United Mer. & Mfgrs 9 1/2 13 1/8 5 3/4 11 15 3/4 35 3/8 25 1/2 16 1/8 27 1/4 16 1/2 15 29 5/8 24 1/8 22 7/8 7 12 5/8 20 7 1/2 28 28 1/4 26 10 5/8 12 1/4 .. November 10, 1949 EDMUND W. TABELL WALSTON, HOFFMAN & GOODWIN This memorllndum is not to b conltrued as an offer or solicitation of offers ,to buy or, sell any securities. From time to time Waist, Hofman & Good;o'iin may I'.have .'In into rest in some or all of the securities mentioned herein The foregOing matenal has been prepared by. us lIS a matter of information only It ba!ed upon information believed reliable but not necessarily complete, Is not guaranteed as accurate or final, and IS not Intended to foredose Independent mqulry.

Download PDF