Word: dowe
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...later unless the central bank acts soon. Greenspan specifically linked his concerns to recent reports showing unexpected strength in such areas as retail sales and job growth, which has many convinced he's ready for an increase. Stocks fell on the announcement, but not by all that much -- the Dow finished down 57.40 points, while the Nasdaq actually reversed its recent slide -- because most analysts had been expecting the move. Other economists said Greenspan would be making a mistake to raise rates, noting new trade figures showing January's overall deficit the worst since 1992. The trade gap with China...
...Wednesday for libeling a now defunct brokerage. The fine, the largest libel award ever handed down, stemmed from an article written by Journal reporter Laura Jareski that Money Management Analytical Research of Houston claimed contained false information and helped put it out of business. The seven person jury ordered Dow Jones & Co. which publishes the Journal, and Jareski to pay $22.7 million in actual damages, plus $200 million in punitive damages. A lawyer for Dow Jones said he would ask U.S District Judge Ewing Werlein to throw out the decision...
There's no telling when, of course. We might see Dow 8000, 9000 and 10,000 before the next sharp market decline--the dreaded bear market. Incredibly, the current blistering pace would roll the Dow past those milestones by year's end. How far is up? That question is relevant only to those able to spot the market's top and get out before the herd--which is to say it is relevant to no one because while some may get lucky, no such expert exists...
...when the market finally blows, you can be sure it'll take the clothes off our backs. The only way to hang onto your threads is to lighten up on stocks now and sell a little more every time the Dow notches a few hundred points higher. That's heresy in today's stock-crazed world. It could mean missing the better part of a huge rally still to come. So no one is going to do it. Heck, we're still throwing $20 billion a month into stock mutual funds. The inflows haven't even slowed, much less stopped...
Abby Cohen, the closely watched market guru at Goldman Sachs, has become mildly unnerved by the Dow's 10% rise in recent weeks--a gain she had expected would take all year. But she's raising her target anyway. Ralph Acampora, a veteran at Prudential Securities, two years ago predicted the move to 7000. Now that it's happened, his new target is 8250. And once we get there? On to 10,000, natch. Meanwhile, pundits who do make a bear stand don't last. Elaine Garzarelli, known for her 1987 warning, issued another late last summer but has already...