Word: bullishly
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Palmer lived up to such bullish notices in the first round. Although he had trouble with his short irons, his drives boomed out for 260 and 270 yds. at a crack. His putting was deadly: on the last hole, he stroked an 18-footer that seemed to die about two feet from the cup, then limped in for a birdie three! After a field-leading round of 67, he admitted that "I drove very good"-then quickly corrected the comment to "good enough." Palmer's most highly touted competitor, smooth-swinging young, (28), Ken Venturi, burned up the front...
...stock market in Hong Kong, unlike other exchanges in the world, thrives on ill fortune. As one of the last citadels of free enterprising Chinese businessmen, the market turns bullish when the political situation elsewhere is too shaky for Chinese investments. The market soared in 1949 when Shanghai bankers arrived, suitcases crammed with currency, only steps ahead of the Communist armies. It was soaring again last week. Reasons: 1) the waves of discrimination against Chinese merchants, which are ripping across Southeast Asia, and 2) high taxes that make investments in Singapore and Malaya unprofitable. Worried about their future, Chinese from...
...reasons for optimism is that volume has been comparatively small; as the market slid, much of the selling came from small investors. Big institutional investors have not been selling, but they have not been buying either, thus have not been the bullish force they usually are. Brokers do not think that much of the bad news on the domestic side is cause for great concern. For two weeks, the market's anticipation of a rise in the Federal Reserve's discount rate added to the decline. But at week's end, after the rise came, the market...
...Bullish economic news generally tightens the money market, encouraging more borrowers to compete for the available supply. For the nation's bankers, home builders, corporations and consumers, the tightening means that they must pay more to get the money they need to make loans, build houses, expand industry, buy autos, appliances and TV sets. Money has been gradually tightening up since spring as the economy spurted to new highs; last week it got a heavy turn of the vise...
...companies with big defense contracts, or in the missile-and space-based electronics industry, dumped their stocks. They felt that any warming in the cold war might bring a cutback in defense orders, even though most Wall Streeters believe that an end to the cold war would be bullish, since it would open the way for a cut in the U.S. budget and in taxes. The Dow-Jones industrial averages dropped 6.31 points in the week, led downward by the electronics stocks. Electronics manufacturers were flying high; Texas Instruments reported alltime-high second-half earnings of $1.62 per share...