Word: bearishly
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News from the Iron & Steel industry continued bearish. April pig-iron production was up slightly from March as was expected, but was the lowest of any year since 1909 with the exception of 1921. Blast furnaces in operation stood at 113 against 116 on April 1. Steel operations throughout the country were placed at 47% against 48% the previous week, and steelmen hoped a gain by Chevrolet might offset Ford's declining production. Scrap prices dropped lower, tin and rail operations fell. The unfilled orders of United States Steel Corp. on April 30 stood at 3,897,729 tons...
Saturday proved to be a Waterloo for the sure-thing gamblers, however, when Professor Babbitt quoted 73 writers in his lecture. This new high has set a dangerous precedent, the proprietors of the pool fear, for many of the students have turned bulls with a vengeance. A bearish drop in any one lecture would ruin the business, but the owners are unable to stabilize it in any manner. Its increasing popularity is attributed to the fact that there can be no pre-lecture fixing...
Backbone of all investment markets is institutional buying. And leaders of this are the life insurance companies, holders of many bonds, mortgages, common stocks. Cause for genuine alarm would have been a bearish attitude in last week's meeting of Association of Life Insurance Presidents. But no bearishness was discernible...
...stocks which will rise most during the next two years. Most prominent was the food & dairy industry, mentioned four times. Practically every other industry was favored by at least one speaker. But no speaker was very enthusiastic over even his own selections. The tone of the meeting was definitely bearish...
...three swift jerks which jumped copper from 9½? to 10? to 11? to 12? came as welcome news to a market weary of bearish developments. This move was of course technically independent of last week's Manhattan meeting, but undoubtedly the coppermen talked informally of price. With tremendous stocks of copper on hand and little prospect of an immediate reduction in them, the new price has yet to meet a real test. But apparently depression and copper chaos have deprived the copper tycoons of none of their willingness to take big chances for big stakes...