Word: dowe
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...stock a day without blinking? At one time, I would have laughed if you had even contemplated such a thing. You couldn't match my access to conference calls, information or quick brokers. You couldn't afford the $1,500 a month you'd need for a Reuters, Dow Jones or Bloomberg wire...
Neither is true now, though. In the past few weeks, deft traders have been able to make 15 points on IBM in one day or make 6 on 3M or Alcoa, Eastman Kodak or Hewlett-Packard. These are marquee Dow names, not heavily manipulated penny stocks or hyped Net offerings. You could "scalp" a huge gain simply by buying these stocks at the opening and selling them at the bell...
...give you a reason. Because it's hard--really hard--to get the direction right, even with all that great info and terrific execution. We have enjoyed the bull market of a lifetime, one that has seen the Dow go up more than 8,000 points, and yet every day thousands of issues go down or disappear or blow up. And while you hear periodically of the day trader who earns enough to retire, you don't hear about them any more than you do about lottery winners...
...measure, at 1.1 percent. Boom! Corporate profits and housing starts are both headed up again, and the all-important drunken-sailor index -- consumer spending, which accounts for two-thirds of U.S. economic activity -- rose at an annual rate of 6.8 percent, the highest in 11 years. Bust! The Dow drops 267 points, taking plenty of Nasdaq e-stocks with it, and Wall Street is pocked with potholes once again. What's going...
...about inflation again, no matter how low it seems to be now," says TIME Wall Street columnist Daniel Kadlec. "And after yesterday's rally, there's a mood that this may be the last chance to get out." But that doesn't fully explain the run on the big Dow industrials, which have lately been favorites in times of trouble. Kadlec thinks some of that can be blamed on the holiday. "There's often a lightening of positions before a long weekend," he says, "so traders can go to their barbecues with a clear head." But that's no guarantee...