Tabell’s Market Letter – August 29, 1969

Walston &Co. ————lnc———— Members New York Stock Exchange and Other Principal Stock and Commodity Exchange. OVER 100 OFFICES COAST TO COAST AND OVERSEAS TABELL'S MARKET LETTER August 29, 1969 Sherlock Holmes buffs will no doubt recall from the story Silver Blaze Holmes' al- lusion to the curious incident of the dog in the nighttime. When Watson remonstrated that the dog did nothing in the nightttme, That, replied Holmes, was the curious incident. In the week ended August 1, 1969, 1102 issues on the New York Stock Exchange posted new 1969 lows. Other issues had posted such lows in the previous week or, in a few cases, in the weeks following. The names of these issues were duIy recorded in the fimmcial journal Considering the severity of the market decline of June-July, it is hardly surprising that a great many issues reached new low territory. The curious incident in this case is that, during the past two and one-half months, 211 NYSE common issues did not make new -1969 lows- This'is 'more 'thansimply'an'idle 'exerclse-Between'mid- May-and -the-end ,of;;-Jul-y- 1969, the Dow-Jones Industrials dropped almost 190 points, one of the steepest short-term declines on recent record. The ablity of an individual lssue to hold above its previously made low during this period is indicative of the sort of relative strength that cOuId put it among the leaders in the next upswing — especially if it continued to hold its low during any testing period that may occur in the next month or two, We have compiled below a listing of all those common issues on the NYSE which held above their previous lows during June, JuIy and August of this year. Included are a few stocks that made new lows by fractions and have since recovered substantially. We think it is a group of issues from which upcoming market leaders may well emerge. L' .Abbott Labs Campbell S Fed.Dept. S. Ky. Fried Ch. Papercraft Staley Mfg. AMP, Inc. Aguirre Co Carter Wal Ferro Corp Kresgej Caterpillar Fin. Feder. Kroger ron, Standard Brands 0 Std. Oil of Ohio Alberto CuI. Cent. So. W First Chart. LFC vtPe ,Allied Maint. Chesebrough First Nat. SLane Br. 1\ si . Sterling Drug Sunbeam Corp Amer. Enka Clark Equip Fla. E. C. Ry. Amer. Home P Clark Oil Food Fair -Amer.. Hosp. SCoca COla .Amer. Res. D Coca Cola B L t.. Amer. Steril. Comsat ssv()Amer. T&T e e St. MGIC Inv Ampex C Manpower P , Chas. lttston Co .'polaroici Proctor G. Pueblo S. M Purolator Quaker St. O. Surveyor Fund Texas Instrum. Texas Utilities Tishman Realty Todd Shipyards Trane Co Anchor Hock. Cont a raltar F Marlennan Read. Bates Transworld Fin. Armco Steel Corn.G a Gimbel Revco Tri-Continental C Armstrong C Crow ork Global M Maytag Revlon Uarco, Inc. Assoc. Dry G Culligan Grant,W.T. McDonald Rheingold Union Camp Atlantic Rich. Atlas Chern. Avery Prod Avon Prod Bard, Inc. Baxter Labs Beatrice F Beckman Inst Becton Dick Benguet Con Big 3 Ind Black Deck. Boise Cas Broad.Hale Bulova Watch Burndy Corp Burroughs Butler Shoe Calif. Finan Callahan Min Cunning. Dr Great W. Fin Mel. Shoe Cutler Ham Grolier Memorex Dart, Inc Dexter DiGiorgio Dictaphone Diebold Disney, W Dlst. Corp Dr. Pepper Dominick F East.Kodak Ebasco Ind. Harcourt B Merck Hewlett P. Midwest O. Holiday Inns Miles Lab Honeywell Minn. MM Host Intl Mobil Oil Hotel Corp Motorola Hughes & H. Narco S. Imperial C.' IBM Nat! Bis. IntI. Flav. F Natl Can IntI. Paper Natl Cash Eckerd Dr. IntI. T&T Natomas Elec. Mem. Japan Fund Norton S Emerson El. Jewel Cos. Outboard M Faberge Factor, M Fedders John. & John. PPG Ind Kauf. & Br. Pac. Light. Kellogg Pac. Pete Fed. Paper Kendall Co Pac. Tin Rich. Merr. Riegel Paper Robt. Cont. Robins, A. H. St. Regis P Schering Schaefer,FM Schlumberger Scott Paper Searle,.G. D. Sears Sher. Wms. Signode Skyline Smith Ind. S. Car. E&G Southern Co Sperry Hut. Squibb Beech. Unishops, Inc United Fin. U. S. Pipe & Fdry Valve Corp. Amer Varian Assoc. Walker, Hr. G. W. Walter, Jim Warner Lambert Webb, Del WescQ Fin… Western Union Whirlpool Wickes Corp Williams Bros. Woolworth Xerox Dow-Jones Ind. 836.72 Dow-Jones Rails 201. 18 . ' ANTHONY W. TABELL WALSTON & CO. INC. – ' – II