Word: furniss
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Will the 1985 rally continue? As always, Wall Street opinion is divided. Says Peter Furniss, a senior vice president at Shearson Lehman Bros.: "This is like a frat party. We're having fun now, but soon somebody is going to call the cops, and the party will be over." Furniss predicts that the Dow may retreat to 1245 before making another bullish move. Richard McCabe, market- analysis manager for Merrill Lynch, disagrees, forecasting that the Dow will hit 1300 this month. McCabe believes that several stock groups are still bargains. Among them: companies in the paper, chemical and aluminum industries...
...pulled $84 billion out of stocks last year, seems to be a key reason for the market's strength. "You can't get 150 million-volume trading days without the participation of the individual investor," notes Monte Gordon, research director for the Dreyfus Group of mutual funds. Concurs Furniss: "Individuals had been poised on the sidelines, waiting for a signal to jump back in. Now they expect something to happen...
...Jones average has been drifting. After an 87.5-point leap during a single week last August, the index finished 1984 in the 1200 range. Analysts last week were confident that the next move would be up. "The Dow will hit 1300 before it sees 1200 again," predicted Peter Furniss, senior vice president for Shearson Lehman/ American Express. David Jones, chief economist for Aubrey G. Lanston & Co., believes the widely watched indicator could reach 1450 by the end of this year...
...Bowl indicator. According to popular lore, the Dow Jones industrial average rises in years in which a team from the original National Football League wins the Super Bowl and declines when a member of the old American Football League is victorious. "Its reliability is uncanny," says Shearson Lehman's Furniss. That rule of thumb has been right in 16 of the past 18 years. So when the San Francisco 49ers of the original N.F.L. trounced the Miami Dolphins in Super Bowl XIX on Jan. 20, Wall Street knew it had something to cheer about...
...London observed primly that in England "queue jumping is frowned upon." There are other critics. After setting a British junior record against an undistinguished field last week, Budd was pressured to withdraw from a tune-up race last Saturday in Sussex because officials said they feared antiapartheid demonstrators. Jane Furniss, England's No. 2 middle-distance runner, says of her new competitor: "When our flag goes up and they play the national anthem, would she feel she had won for Britain or South Africa?" Like those safari ants, Budd is pressing on. She has next to hurdle the I.O.C...