Word: downtrend
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Dates: during 1960-1969
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...small investor, even more than the professional, tends to respond to that intangible, unpredictable but all-important factor: market psychology. When an up-or downtrend begins, market psychology often exaggerates it. In the latter half of 1966, when the market began to plunge, many investors sold out on the theory that things would get worse. Market averages dropped, and many glamour stocks were whacked in half. Within three months, after many small investors had sold out at the bottom, the market bounced back. Now much the same thing appears to be happening again. Stocks have dropped about 4% on average...
Indeed, it seemed that stockholders were well educated as to the causes of the downtrend and ready to accept the worst. It therefore came as old hat that such past record setters as Du Pont, Caterpillar, Union Carbide, and Safeway Stores reported earnings slides. After six years of record-high dividend checks, stockholders appeared fat, friendly and eager to be entertained by the corporate hierarchy...
Only "Stagnation." The critical question is whether the inventory shrinkage, which is spotty so far, will widen into a sharp downtrend before easier credit and federal deficit spending again pump up business-and prices. Many economists expect the inventory gain to slip to an annual rate of about $9.5 billion during the first three months of this year. Even so, few predict anything worse for the economy than what Leon Keyserling, former chairman of the White House Council of Economic Advisers, calls "a period of stagnation." With federal, state and local government spending on the rise, with housing starting...
...wholly welcome. Among moneymen, panicky talk of a threatening crisis in the financial markets had disappeared as bond prices improved and business reacted to high-interest rates by postponing some borrowing. The length of the work week, new hiring by industry, business inventories and industrial production all showed a downtrend. Though the nation's factories hummed at 93% of capacity, that rate was no higher than it had been at the start of the year. Lagging demand for steel, the economy's most basic ingredient, last week prompted giant U.S. Steel Corp. to announce plans to close...
Last week, going against the market's downtrend, Fairchild lifted to an all-time high of $210, an extraordinary 65 times annual earnings. This week the company will announce its 1965 earnings, and brokers expect to hear that sales last year grew 33%, to $185 million, and profits after taxes soared 300% , to about...