Tabell’s Market Letter – May 05, 1966

Tabell’s Market Letter – May 05, 1966

Tabell's Market Letter - May 05, 1966
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, … .! ,, I' ,ALL WIRES , the Dow-Jones Industrials and Dow-Jones Rails will constitute a Dow .Theory sell signal. For the record, this ,\ reverses the Dow Theory buy- 1 signal given some 45 pOints highe'r which, in turn, reversed the Dow ' , ', Theory signal which had been given 65 points lower. , Our own feeling is that who wish to operate on the theory off of this I. 'j ;.- r' !' J ' ', )1'.' . ,.. ' '. ' ,4 J j 1 , .; , ,\ Insofar as the Dow is concerned, the worst possible downs'ifle indication is taken by go,ing back to the original December-February top as since broadened. This indicates a possible downside objective of ,850, or roughly 60/0 current levels, This means three points on a with the strong probability that the better acting issues would not move down this 'much. Recent copy of our Recommended List is in the hands I of all offices. It is our feeling that the issues therein can be bought at the support,levels mentioned. Anthony W. TabeU – NY ., .,

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