Tabell’s Market Letter – January 04, 1957

NEW YORK Walston &Co. – – – – I n c , MembeTS New Y o1'k Stock Exchange PHILADELPHIA' LOS ANGELES SAN FRANCISCO BASLE ISw,hedd) OFFICES COAST TO COAST CONNECTED BY DIRECT PRIVATE WIRE SYSTEM TABELL'S MARKET LEnER January 4, 1957 The Dow-Jones Industrial average continues tu meet resistance at the lower part of the heavy overhead s u pp 1 Y at 500-524. This week's high was 502.57 which was a bit above the previous November and December highs but not enough to be decisive. The rail average also failed to better the previous highs. Ability to penetrate the December high of 159.41 would be encouraging. This week's high was 157.31. Regardless of the action of the averages, individual issues continue to show excellent technical patterns. Reprinted below is a complete list of my recommendations for long term capital appreciation. – -'—-. Price Allegheny Ludlum 63 Amerada Petroleum 124 American Cyanamid Bell & Howell 78 50 Bristol Myers 45 Calgary & Edmonton 30 Carborundum Corp. 45 Carrier Corp. 60 Champlin Oil & Ref. 29 Columbian Carbon 48 Crucible Steel 80 Eagle Picher 45 Eastern Airlines 51 Fansteel Metal. 50 Food Machinery 62 Gen'l Dynamics (new) 57 General Electric 59 Gen'l Rwy Signal 32 Gulf Orl 123 HewtttT-Robin'B .- Intern'l Nickel 109 Intern'l Petroleum 49 Johns Manville 49 Joy Mfg 72 Kansas City South. 77 Kennecott Copper 128 Magma Copper 87 Martin, Glenn L. 41 Masonite 34 Minerals & Chem. 29 Nat'l Distillers 27 North.Natural Gas 49 Northern Pacific 41 Pacrfic Petroleums 19 Pan-Amer. \'Jorld Air 19 Panhandle East Pipe 52 Penn Dixie Cement 40 Pittston Co 68 Rayonier 31 Richfield Oil RoyalMcBee 71 Sperry Ran& 23 Sunray Mid-Continent 28 Sylvania Electric 44 Tennessee Corp. 60 Timken Roller Bear 100 United Airlines 43 U. S. Steel 72 Western Pacific 64 Yale & Towne 30 Recom. 16 103 67 423176–35 42-40 60-58 24 5& 60-58 22 4T 45-44 51 50-48 56 19 107 –25 ' 90 34 50 23 85-83 130 75 38 iffi 32z-430 4847 40-39 11 12 46 39-37 5 4038 75-74 31 25-24 25 49 50 9040-38 65 7138 Yield 31..26 3.8 2.0 3.9 0.3 3.3 4.0 3.5 5.0 3.8 4.9 2.0 2.0 3.2 3.5 3.4 4.2 2.0 . 3.4 2.4 4.6 3.9 5.2 772 4.0 5.0 0.7 3.7 5.3 4.3 4.2 2.9 12..85 4.5 4.9 . – 4.3 3.5 4.3 4.5 3.8 2.5 3.5 3.6 4.7 5.0 Advice BuyHold. Support at 58-55 BuyHold. Support at 11&-105 BuyHold. Support at 7570 BuyHold. Support at 4543 Buy-Hold. Support- at 41-39 Hol&. Support 25-24 – Buy-Hold. Support 3937 BuyHold. S,upport 5550 BuyHold. Support 2624 BuyHold. Support 4544 BuyHold. Support 7065 Support 45-,42 BuyHold. Support 4744 BuyHold. Support 4643 BuyHold. Support 6055 BuyHold. Support 5550 BuyHold. Support 5654 BuyHold. Support 3028 BuyHold. Support 9794 . BuyHold. Support 9890 BuyHold. Support 4039 BuyHold. Support 4442 BuyHold. Support 7065 BuyHold. Support 78-0/4 BuyHold. Support 125-120 i.'lyHold. Support 9285 Support 4037 BuyHold. Support BuyHold. Support 2725 BuyHold. Support 2524 Support 4645 Buy-HOld. Support- 36-35 Hol&. Support 15-14 BuyHold. Support 1716 BuyHold. Support 49-46 BuyHold. Support 3835 BuyHold. Support 65-50 BuyHold. Support 30BuyHold. Support 6864 BuyHold. Support 2221. BuyHold. Support 2524 Buy-Hold. Support 4442 Buy Hold.Support 5550 BuyHold. Support 95-90 BuyHold. Support 3735 Buy-Hold. Support 6966 BuyHold. Support 60-55 Buy-HOld. Support 28 .,.. formerly Chicago Corp. EDMUND W. TABELL WALSTON & CO. INC. ,