Word: bullishly
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...that show busi ness could be so kind. "After what they did to my poor Ship of Fools," she said last week, "I was just crushed. I didn't expect anything like Noon Wine." Neither did anyone who had previously watched Stage 67; but expectations now are downright bullish...
...bullish 1965, the No. 1 glamour stock was Fairchild Camera and Instrument, which soared from a low of 27 ¼ to a high of 165 ¼, the biggest percentage gain of the year. The company owed its gargantuan gain to its pinpoint-tiny microcircuits-the new electronic marvels that bond and fuse complete, complex electrical circuits onto a sliver of silicon. In early 1966, Fairchild stock continued to rocket, finally hit 2161, a hefty 65 times earnings, before it began to recede. Last week it went into a big fall, and took other electronics stocks down with...
...Steel's surprising dividend cheered Wall Street's professionals. So did a New York Times survey showing that the profits of 485 major companies rose by an average 6.7% in the first nine months; without General Motors, the average gain would have been 12.5%. Also bullish: reports from Washington and from the American Bankers' Association convention in San Francisco last week that the worst of the credit squeeze appears to be over; forecasts by the Commerce Department that in 1967 capital spending will increase by a healthy 8% and the gross national product will expand...
...Bullish or Bearish? When Wall Street is caught with its shorts up, it is evident that bears have been at work. On the other side, a large short interest technically promises an eventual upward pressure on the market when the short buy to cover. In an exercise called "squeezing the shorts," artful traders sometimes purchase big blocks of stock that have heavy short positions; the idea is to push the short sellers into buying to cover and driving up the price...
...their moment of truth back home, U.S. businessmen can only hope that the President will carry on a somewhat more realistic confrontation with the bullish U.S. economy-with both sides coming out just as well...