Word: dowe
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Dates: during 1940-1949
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...Morgan '50, of Winthrop House and Locust Valley, N.Y., will take over Varsity reins for the coming year, with Steven Little '49, of Winthrop House and Brookline, as his assistant and H. Bradlee Perry '50, of Winthrop House and Brookline, in charge of the Varsity 150's. Harry R. Dow III '51, of Thayer Hall and North Andover, will handle the Freshman heavies, with Philip Dexter '51, of Matthews Hall and Boston, taking the yearling...
Just after lunch on Friday last week, Wall Streeters were seized with joy. Traders in the New York Stock Exchange cheered, jumped up & down, and thumped each other. Reason for excitement: the Dow-Jones industrial average had broken through its previous high mark of 187.66 -made in 1947-as the rail average had done 19 weeks before (TIME, April 19). Under the famed Dow theory, which many traders swear by, that meant only one thing: a bull market...
Averages were up again; the Dow-Jones industrials closed at 190.25. Again the ticker fell behind. For the first time in 20 months, the Big Board had to put out "flash" quotes (i.e., break the sequence of transactions by flashing the latest prices of such key stocks as U.S. Steel and General Motors). At week's end, stocks on the Big Board were worth some $3.5 billion more than at week's start...
...chartists had a rough clue in past performance. After previous bull-market "confirmations" (breakthroughs), the Dow-Jones industrials had a total rise from 30 points...
Nevertheless, even the most religious followers of the Dow theory knew that this was no guaranteed guide to the future. In effect, the breakthrough last week simply "proved" to the theorists that a bull market had been under way since the 1947 low of 161.38, following the collapse of the big bull market in 1946. But the market had been within 3.65 points of that low mark as recently as March, thus proving that even in the theorists' bull market an investor could lose his shirt...