The present invention is an improved swivel joint for use as part of a cable-guided fishing assembly. The swivel joint contains a bearing assembly comprising a series of ball bearings partially encased by an inner and outer race. During a cable-guided fishing operation, the inner and outer race exert a shearing, rather than compression, force on the ball bearing due to the unique configuration of the bearing assembly. This unique configuration increases the strength of the bearing assembly, and the corresponding strength of the swivel joint, without necessitating an increase in the outer diameter of the swivel joint.