Word: dowe
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...President Clinton refuses to sign a tax-reform bill, and Newt Gingrich proclaims the capital-gains tax-rate cut dead, raising the specter of government gridlock. The Dow surges 200 points because, well, gridlock has been very profitable in the '90s, and now there's no incentive to sell so, heck...
What could cause a stock market crash? it's an intriguing question with no real answer, other than some kind of surprise. My bet is that it would take a whopper. The bull market is so strong that to send the Dow careening would take something truly out of this world. Here's how it might unfold...
...market opens; inflation-wary traders send the Dow plunging 160 points as interest rates soar...
...Yardeni at Deutsche Morgan Grenfell and other economists hit the wires saying that rising wages will not lead to inflation in this new era. Institutions, recalling that folks like Roach have been yelling "fire!" for more than a year, start buying. The Dow recovers...
...radio station near Sedona, Ariz., reports a 20-mile UFO--unconfirmed, as usual; the Dow is rallying, as usual...