Word: bulled
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Dates: during 1980-1989
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Says Richard Bull, a senior at Loyola College in Maryland, "Muscles ache that we never knew we had." His friend, Jane Keller interjects, "You find you have to get a lot of rest and sleep on weekends," quickly adding that "no one does...
Until last week, many Wall Street investors thought the fun was over. The extraordinary bull-market surge that began last September seemed to have sputtered as of April 21, when the Dow Jones industrial average hit a peak at 1855.90. Between then and May 19, the Dow plunged 97.72 points, to 1758.18, losing more than 5% of its value. But when Wall Streeters returned to their command posts, computer terminals and telephone consoles after the Memorial Day hiatus, they happily resumed some unfinished business: a dizzying bull- market comeback...
...mark. Says Thomas Kelley, chairman of BankAmerica's investment-management subsidiary, which handles about $15 billion: "It was so obvious the market was going to come back." Notes Richard Goforth, a broker for the Los Angeles investment firm Crowell, Weedon: "People feel like we're in a good bull market that's going to last for another year...
...makes investors feel better because they have it out of the way, like a dose of castor oil. Says Donald De Lutis, a money manager at San Francisco's Robert C. Brown investment firm: "I think 5% to 10% corrections are part of the normal activity of a great bull market...
...they doubt the common wisdom behind it. Says Mason Sexton, president of the market-forecasting firm Harmonic Research: "I have been urging investors since September not to stand in the way of this beast. Wall Street is littered with the bodies of traders who underestimated the power of this bull market." Others see a worrisome possibility that the stock market will lose any realistic relationship with economic growth. Says De Lutis: "If the market has a substantial rise and gets way ahead of the economy, then it would be a risky situation." In the months ahead, high-riding investors...