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Despite heavy flurries of profit taking, the stock market last week continued its astonishing January upsurge. Moving upward on three of the five trading days, the Dow Jones industrial average rose a total 24.32 points to close the week at a lofty 953.95, the highest mark since October 1973. In fact, since the market suddenly came alive after the new year, the Dow Jones industrials have gained a striking 101.54 points for one of the steepest rises on record...
...Director Alfred Lunt and Designer Cecil Beaton, this production has Violetta's bedroom looking like a barn in winter-something Walt Disney might have conceived in homage to Charles Addams. Because the windows are so high and remote, the poor girl cannot even get to the win dow to watch the revelers in the last act. The current stage director, Fabrizio Melano, has not really resolved all the old problems: the Baron's challenge to Alfredo in Act III, for example, comes off much too tame...
...establish losses for tax purposes. What happened last week, however, far surpassed the usual January flurry: with a powerful surge, the stock market leaped into the new year. On each day last week, prices successively chalked up solid to spectacular gains, adding a total of 52.42 points to the Dow Jones industrial average. That barometer broke through the psychologically important 900 mark to close the week...
Though that is still far below the all-time high of 1051.70 in January 1973, brokers were delighted that the Dow has at last jumped above the 820-to-869 range in which it had been mired for five months. Said John J. Smith, partner in the brokerage house of Fahnestock & Co.: "The market has finally broken out on the upside, encouraging the bulls...
...astonishing if prices did not slip back soon, at least temporarily, after shooting up so far and so fast. The most prevalent view on Wall Street, however, is that stocks are entering a second stage of a major bull market that, in the opinion of followers of the Dow theory, began unmistakably a year ago. Though the second stage of a bull market usually is characterized by a somewhat more cautious advance than the first, some analysts are predicting that the Dow Jones average could again test 1000 before year's end. Says Harold Jane way, a senior vice...