Tabell’s Market Letter – November 04, 1960

Walston &- Co. Inc. —– Members New York Stock Exchan,qe NEW YORK SAN FRANCISCO LOS ANGELES PHILADELPHIA CHICAGO OFFICES COAST TO COAST AND OVERSEAS fABELL'S MARKET LETTER Riverside, Connecticut November 4, 1960 In the past three Presidential elections this letter has attemptedto forecast the winner and the stock market reaction to the result. Probably more through good luck than political acumen, our forecasts have been fairly good. In the Truman-Dewey con- test in 1948, our opinion was that, while all the polls seemed to favor a Dewey victory, the result was far from certain, and we advised taking short-term trading profits as the market had seemingly discounted Deweyl s election and could be expected to sell off sharply in the event of a Truman victory. It did not take too much ability to predict the 1956 election.result.– Eisenhower was indicated we are proud that we called the turn in the 1952 election when we predicted that Eisenhower would be elected by a landslide greater than any since 1936, despite the fact that the poll forecast a very close election. The 1960 result looks to us like a victory for Kennedy. Not only do all the polls point in that direction, but if Kennedy holds all the states in which he is even, or has a slight advantage, his victory could be of landslide proportions, surpassed only by the two Eisenhower and the first two Roosevelt elections. It is true that the fact that so many states are so close, coupled with the large undecided vote, makes it possible that Nixon will pull an upset, much as Truman did in 1948. This, however, must be regard- ed as rather unlikely. In my opinion, while the election outcome may have some short-term reper- cussions in the stock market, over the longer term the result will have no great effect whether Kennedy or Nixon is elected. Other influences and forces over the next four years will be of far greater importance than the result For a real long- term prediction, J. personally feel that no matter which c di ,ected on Tuesday, he will fail to be re-elected in 1964. ….–1 For a long time this letter has held the tha re in the final stages of the Eull market in!.949. It gener.al market averages- can have another surge upward long trading area with the market tj' v 's c eted. The sequel will be a confines of, roughly, 500 and 750 for several years before t In the final stages of a bull market, lower-price f m better than the general market. This letter published p g tion of low-priced stocks on several occasions in the past. It wa ese issues be bought as a package in order to provide the necessa iv fication in a speculative list of this nature. The list be- low of stocks selling er 20.00 a share, is slightly changed from our list of August 12th. The n recommendations are marked with an asterisk. Recent 1959-60 Price Range Recent 1959-60 Price Range Allied Paper 105/8 17 1/4-83/4 Kaiser Industries 83/4 20 1/8-8 1/4 Avco 137/8 175/8-'1.0 1/2 Lear 161/2 23 1/2-9 1/8 'Campbell Chiboug. 57/8 103/4-49/16 McCrory Corp. 13 193/4-12 1/2 Chic. ,Mil. ,St. Paul 15 1/4 333/8-13 1/4 National Can 91/4'145/8-8 'Commercial Solvents 19 25 1/2-12 5/8 oNorthwest Airlines 153/4 463/8-133/ 17 1/8 29-157/8 Pacific Petroleum 10 1/4 191/8-8 Foote Mineral 19 455/8-18 Rayonier 16 1/8 303/8-155/8 Fruehauf Trailer 18 3/4 30 3/4-17 3/8 li;;Rohr 15 – 243/4-'12 '5/8 Getty Oil 14 1/4 28 3/8-12 1/4 Servel 12 1/8 17 3/8-9 1/4 Intern'l Packers 15 3/4 245/8-12 3/4 Sun Chemical 135/8 18 1/4-11 3/8 Ve have removed several issues from our previous list. As a result, the following S\\itch operations are advised. Switch Chemway, Curtis Publishing, Hotel Corp, Publicker Ind. , and United Industrial into Campbell Chibougamau, Kaiser Industries or National an. Pacific Petroleum replaces Home Oil and Fedders Corp. ,and Oliver Corporation (now Cletrac) should be switched into Commercial Solvents, Foote Mineral or Sun Chemi- cal. EDMUND W. TABELL ow-Jones Ind. 596.07 ',ALSTON & CO. INC. ow-Jones Rails 128.22 ThIB market letter is not, and under dreumstances is to be construed ss, an offer to sell or a sohcitatlOn to buy any securities referred to herem The information contamed herein 18 not guaranteed as to accuracy or completeness and the furn1shmg thereof IS not, and under no Circumstances lS to be construci as, a. representa- tion by Walston & Co Inc All expresSIOns of opinIOn are subJect to change Without notice Walston & Co, Inc, and Officers, Directors. Stockholders and Employees thereof, sell and may have an Interest In the securities mentIOned herein This market letter IS mtended and presented merely as a informal commentary on day to day market news not 88 a complete analysis AddItIOnal mformatlOn With respect to any secUrittes referred to herem be JOt ……. –