Word: downdrafter
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...Delta Air Lines Flight 191, a wide-bodied Lockheed L-1011 with 160 aboard, approached Dallas/Fort Worth Airport last Friday, the north Texas sky abruptly turned dark gray. Clouds welled up and burst into showers, and lightning bolts zigzagged menacingly. A meteorologist later estimated that a downdraft was rushing through the thunderstorm cell at 80 m.p.h. The huge plane descended, but suddenly plunged belly first to the ground a mile north of Runway 17 at the nation's largest airport (roughly the size of Manhattan). The L-1011 bounced off the turf and came down again a quarter-mile away...
There is much to suggest that any big downdraft would be met with eager buying. Foreign stock markets sank 5% to 10% on the day of the attacks in New York City and Washington, but bounced back or stabilized quickly. Mutual-fund companies report that few sell orders piled up while the markets were closed last week. And sectors including construction, defense, energy and security systems stand to do well in the months to come. Investing legend Warren Buffett, who was host at a conference for CEOs in Omaha, Neb., last Tuesday, told his guests the attacks "will not change...
...helicopter sets down in Nantou county, next to a roadside restaurant where the waitresses and cooks have all come to stand by the road, their outfits buffeted by the rotor's downdraft. The President and his entourage are hustled into waiting Ford Econoline vans and then driven to Shi To National Park, where they attend a ceremony honoring efforts to rebuild after the September 1999 earthquake. Under a stained, blue-red-and-white canopy, the President listens as Nantou's deputy mayor explains how they had to bore through rocks to reopen the highway. A hundred locals sit on white...
...gloomily because he's panicking. Greenspan hasn't let the U.S. economy so much as scrape its knee in a long, long time. The plane (sorry about changing that metaphor), which has been on a steep ascent all year, is leveling off as corrections in the markets provide a downdraft and the New Economy succumbs to a touch of jetlag. But we haven't crashed yet, and we jettisoned inflation fears over Lake Michigan sometime this fall...
...sideways triangle, or pennant shape, that reveals schizoid investor psychology. On one hand, investors do not believe the market can sustain a rally--so as stocks near their previous highs, sellers charge in early to beat the crowd. But investors don't see a big downdraft coming either--so as stocks approach their previous bottoms, they swoop in to bargain hunt before others get there. Everyone is playing the trading range, which gets narrower with each reversal...