Tabell’s Market Letter – April 26, 1957

Walston &- Co. / – – – – I n c , – , M embeTS New Y07'k Stock Exchange NEW YORK PHILADELPHIA LOS ANGELES SAN FRANCISCO BASLE (Sw,h.d,ndl OFFICES COAST TO COAST CONNECTED BY DIRECT PRIVATE WIRE SYSTEM TABELL'S MARKET LEnER April 26, 1957 Near term technical pattern continues to suggest higher levels in individual stocks, although the general market is entering an area of heavy overhead supply. My technical gauge has not yet entered overbought territory and has not reversed the intermediate term buy signal given on February 13th. Four issues in my recommended list have reached or approached interme- diate term objectives and are therefore dropped from my list until-a new pattern forms. They are General Dynamics, first recommended at 48-50 in August, 1956, which is approaching its first objective of 70. Recent high is – 68 reaching near term tJtic rec)mmended overhead supply at the week's high of 64 5/8. 56, Also International Petroleum which, at the week's high of 60 1/8, reached 60 objective mentioned in our last list resume. It was originally recom- mended at 34 in June 1956. Also Pacific Petroleum, which was originally trheceomremceenndetdhaigth11of in27F3eb/8ru. ary 1955, more than reached its 25 objective at The balance of the list follows Present Price Price Recom. Allegheny Ludlum 60 Amerada Petroleum 117 Amer. Cyanamid Bell & Howell Bristol-Myers Calgary & Edmonton Carborundum Corp Carrier Corp. Champlin Oil Copperweld Steel ECar gulcei bPle-ic hS-teer-e l — 79 38 48 33 43 58 30 33 Eastern Airlines 39 Fansteel Metallur. 56 Food Machinery 60 Gen'l Rwy Signal 30 Gulf Ol 129 Hewitt-Robins Intern'l Nickel 36 112 Johns Manville 47 Joy Manufacturing 68 Kennecott Copper 118 Magma Copper Martin,Glenn L. Minerals & Chem 76 39 29 Nat'l Distillers 27 Northern Nat.Gas Pacific 57 42 Pan-Amer.\lJorld 16 Panhandle East.Pipe 53 PPeinttns-tDoinxie Cement -6338- Royal McBee 36 Sperry Rand 23 Sunray Mid-Cont. 26 Sylvania Electric 45 Tennessee Corp. 56 , rimken Roller Bear.lOO United Airlines 29 U.S. Steel 63 vlestern Pacific Yale & Towne 59 29 16 103 67 42 164240 60-58 24 3 3.202–29 – 47 4551-44 19 107 25 90 50 23 130 75 38 23J0t 48-47 40-39 12 46 3r 25-24 25 49 50 90- 40-38 65 7138 Buy-Hold for long term appreciation. Buy-HOld. Long term potential 180. One of most attractive chemicals. BuyHold for long term appreciation. Buy-HOld. Support at 48-46. Hold for intermediate retention is advised. BuyHold for substantial appreciatior BUY-Hold.Intermediate object. 37. Excellent holding for yield & t ion. -In buying range.Support at 40-38. Price action may be slow,but long term outlook good. Continued retention is advised. Excellent lit growth.Buy on weakness. Buy-Hold for long term appreciation. retention is advised. Buy-HOld for long term appreciation. Continue to hold for long term gaiD. Hold for income and long term apprec. Hold for intermediate object.of 80. Hold for yield and long term apprec. Long term potentiality very favorable. Near support.L/t pattern very strong. Lit pattern good.Patience required. Hold for long term growth. Very strong long term pattern. One of the better rail patterns. Prie-e action slow.Patience r,equired. BuyHold for long term gain. support – Longterm objective over 100. Buy-Hold.Excellent long term pattern. Patience required.L/t prospects good. Hold for long term gain. Buy-Hold.Near strong support level. Excellent long term growth pattern. Buy-Hold.Excellent long term pattern. Patience required.L/t outlook good. Continue to hold for lit gain. Has reacted sharply.Near support leve Continued retention advised. I ' hf \ Thl'l market letter IS not, and under no cucumsta.nces IS to be construed 3S, nn 0IT to B..II orr ;().h,tAYAI)-,.1,\bUH be cotnosthruereedma.s,TahreepmrelosernmtaattIiOonn hod lnf hcontamed herem IS not Ilu.!.ranteed a'l to nccuracy or completeness the t & Co loe (If any Officer, Irector or Stockholder thereof, may 'Valston & Co, Inc All expresslOns.of opmlOn …. 1\neWII nnnndInntoetreasst nInctohmepSlCetCe\alnntaleisysml'e! ntAIOddnietdIOhnearlemm,.OrmISntlOn Weitherespec It0 any CCu as; general, mformal commentary on day to day market referred to herem ,ill be furnished upon re(IUcSt WN 301