Tabell’s Market Letter – December 05, 1952

Tabell’s Market Letter – December 05, 1952

Tabell's Market Letter - December 05, 1952
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HOWARD F. SCHROLL DIGBY 44141 \\Toiston.lIoffnl0n &- Goodwin;— —'— —'-;')7 NEW YORK 5, N, Y 35 Wall Street DIGBY 44141 PHILADELPHIA 2, PA 1420 Walnut Street PENNYPACKER 55977 LOS ANGELES 13, CALIF 550 South Spring Street MADISON 93232 SAN FRANCISCO 4, CALIF, 265 Montgomery Street SUTTER 1-2700 . ,,,; TABELL'S MARKET LETTER I';.- The Dow-Jones industrials have advanced some twenty-two points in .1 about a month and a half and the rails and utilities have shown even a ,., greater percentage adyailce. It would be perfectly normal technical action -' I to have some sort of a -consolidating move at this stage of the advance, if ); not a sharp correction. My intermediate term technical indicator has reach– ' – ed overbought territory but has not yet given an actual sell signal. How- ;- ',' ever, the technical formation of the averages suggests that such a signal -, may be k;iven in the next week.. – — '- -,. — – – ,,' —. ,',- '\ bONG TERM INVESTMENT I continue to advise a 100 invested position in accounts concerned mainly with income and longer term appreciation. Pre- , ,rlsent holdings of recommended issues should be retained, butloUld withhold ;'; new purchases until some consolidation or correction occurs The following ,' , issues in my recommended list can be added to holdings in t e buying ranges-' spectified. I have moved up General Railway Signal to the long term invest- '. ,, men list. Price Buying Range Price Buying Range .' Abbott Lab. (A) 48 , Allis Chalmers 57 .' American Chain 31 ; American Radiator 14 '' American Seatin 20 .'.' American Tel (AJ 160 ,; Armstrong Cork 52 ;Babcock & Wilcox 39 i Blaw Knox 18 ; Bucyru.s Erie 24 Burlington Mills 16 ,; Burroughs Add. ,,' Celanese ';, ChainBelt (A) ;. Columbia Gas (A) '-,,, Elliott Co. 16 35 34 15 29 45-42 54-52 30-28 14-13 20-18 158-156 51-49 37-35 18-17 25-23 15 17-16 36-34 Mkt. 14-13 29-28 Gen I. Rwy. Signal 33 Hall Printing 16 Joy Mfg. 33 Lone Star Cement 30 Lowenstein 31 Mont. Ward 61 Owens Ill. G. 72 Parke Davis 45 Penn. Salt (A) 50 Pfizer 34 Phillips Pete 58 Shamrock Oil Smith,A.O. 43 35 – Sylvania Elec. 41 U.S. Gypsum 113 Western Auto 53 32-30 16-15 33-32 28-27 31-30 60-57 72-70 44-42 48-45 32-30 53-50 39-37 35-33 39-37 110-105 50-47 — 1', CAPITAL APPRECIATION During the October weakness, I advised in- , -, creasing invested pOSitions iIi. risk accounts concerned mainly with capital , , appreciation over six months period to 60 invested. Would be inclined to -.-. – take a few profits and cut invested positions to 50. Remember purchases ' -, -';\ in this account are to be held for a minimum period of siX months so the F -, outlook for that period must be considered rather than the near term trading ', outlook. See the daily Walston Letter for trading advice. We are removing ;– .,; from the list Carrier Corporation which was originally recommended at 15 ,- -,; and again at 23-20 and more recently at '(27-29. At 36, the stock still looks — ,'I higher for the long term, but other issues that have not advanced so sharply.- I '-'Imay offer more attractiotl.. On the same reasoning, we are removing Southern– \ -Railway, now 79, and originally recommended in the 50-55 level. The list beY ; low should be bought on declines to the buying ranges specified. ;-.; .. – Admiral, (A) Price Buying Range Price B4'nfRange, 31 29-27 Hercules Motors 20 8- 6 ,– – Allegheny Ludlum 37 34-30 Interchemical 22 20-'-18 , BaIt. & Ohio 25 23-22 '-,;Beaunit Mil-ls- – 11' -. 19-17 Inter. Tel 20 18-17 ;- MissKan-Tex.pfd.-'62 – – . 58-55- —,—,. ; Erggs-M-fg 38 35-34 Minn.St.Pl.SSM 18 17-16 '.' Canadian Brew. 18 18-17 Nat' 1 Dist. 22 22-20 Certainteed 14 14-13 N.Y.Airbrake (A) 19 20-18 -' Chic. East.Ill. 19 18-17 Pacific Mills 26 26-25 J, Chic. Gt. West. 26 23-22 Paramount 27 25-24 ' .. Climax Molyb. 38 35-33 Pittston 36 27-25 ;;Columbia Broad. 40 37-34 Universal Pic. 13 13-12 ', Denver,Rio Grande 76 74-72 Vanadium 42 40-37 ,iEastern Airlines ';Fansteel -, Ferro (A) c Gray Mfg. 24 27 27 14 23-22 26-23 28-26 14-13 Warren Petro. Western Air (A) Western Maryland Western Pacific 33 11 22 62 30-28 11-10 21-19 57-55 ,,- '- -…….. .

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