Word: bluechip
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Dates: during 1950-1959
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...rise in the Dow-Jones industrial average gave a false picture of the market. The index, made up of 30 stocks, mostly bluechip, includes G.M. While they were jumping, many other stocks declined. Of the 1,231 issues traded, 636 closed lower, while only 361 advanced (234 were unchanged). The next day, as traders took part of their sizable one-day profits in blue chips, the index had its big drop. Ordinarily, a one-day drop of more than 7 points in the average would shake the market, set off a prolonged selling wave. But this time...