Tabell’s Market Letter – November 27, 1946

Technical Market Action Continue to like the action ot' the, mar'ket. were at, the clbse by but all three slightly the million ,',., ' frac- Both the 'averages and individual issues continue to hold in the broad trading area outlined over the past eleven weeks. As time goes on, indications point more and more to the probability that this trading range is an accumulation or base area, The upside penetration of this range would indicate substantially higher levels for the intermediate Such an advance, if it ooeurs, could be quite rapid as there is little resistance or supply in the area between roughly 177 and 200. Based on that possibility, continue to recommend the purchase,on soft spots,of the twenty-five issues recently listed. The list is reprinted below American Cyanamid Amer.& Fgn. Pr.2nd American Rolling Mills Atchison, Topeka & S.F., Baltimore & Ohio, pfd. Bethlehem Steel E., W. Bliss J I. Case Certain-teed Cities Service, Doehler Jarvis Eagle Picher Evans' Products General Cable Illinois Cen1 tral International, Minerals Mead National SUpply Rayonier Revere Copper Reynolds Metals Simmons Union Ba/! u. S. Rubber u. S. Steel 1946 High 63 3/4 44 1/8 42 3/8 121 47 1/4 1143/4 331/4 ,55 25 7/8 41 7/8 37 7/8 301/8 33 3/4 163/8 45 1/2 45 30 5/8 25 33 313/4 451/2 567/8 g3o9 97 3/8 Recent'I -L-ow- 411/4 18 -29 5/8 78 18 85 5/8 lB 1/4 31 1/2 151/2 20 1/4 23 3/4 19' ,- 1'5 1/4 81/2 181/8 27 18 3/8 11 7/8 17 1/4 18 241/2 33 23 48 1/4 651/S, Last 47 3/8 22 33 3/8 88 3/4 22 3/4 88 1/4 22 33 5/8 17 7/8 263/8 .-31 1/4 221/B 18 11 1/2 241/2 29 1/4 21 12 3/4 191/4 221/8 35 5/8 36 271/4 50 701/B November 27, 1946 EDMUND VI. TABELL SHIELDS & COMPANY Dow-Jones Industrials 168.34 Dow-Jones Rails 48.90 Dow-Jones 65-Stock 61,49 The opinions e.pressed in this letter are personal interpretation of charts by MI'. Ecimvnd W. Taba and ere not pretenfeo a….. opinions of Shield, & Company