Word: oversold
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Dates: during 1960-1969
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...final two days, it jumped 23 points, to close at 827. The rally at first was fired by false rumors that banks planned to reduce their 81% prime interest rate. Brokers called the rebound a sign that investors were eager to jump at almost any chance that the oversold market might reverse itself. Few were willing to predict, however, that the long slide had ended...
...hedge funds have been hard hit. Some money is being shifted out of stocks into bonds. People who buy stocks on margin have to pay 11% interest, but those who buy bonds collect as much as 8% interest-a rewarding spread. Though analysts tirelessly repeat that the market is oversold, few see much chance for a strong rally until investors discern significant moves toward peace in Viet Nam or easier money at home...
...much farther can it decline? The long slide is one sign that inflationary psychology is finally being broken-or at least dented. Most analysts agree that the market is oversold. Mutual funds harbor some $4.6 billion-or nearly 9% of their assets-in cash and 30-to-90-day Treasury bills. Brokerage houses hold about $6 billion in uncommitted margin money. That potential purchasing power could provide a lift to the market, but investors are awaiting signs of a loosening of credit. The signs may be a long time coming. Last week Thomas O. Waage, vice president...
Though Shoup maintains that many U.S. officers saw the Viet Nam war as a chance to field-test new weapons and season a generation of career soldiers, the experience seems more an example of military?and political?misjudgment than of calculated aggressiveness. The military, which oversold Lyndon Johnson on the efficiency of air power against North Viet Nam, can be faulted; so can the State Department, which insisted that Ho Chi Minh, despite his Soviet training and his country's history of resistance to Chinese influence, was little more than Peking's puppet. But the final decisions lay with...
...hand in reshaping the nation's existing antipoverty programs. Judging from a book to be published by Macmillan in February, it will not be a gentle hand. In a searing indictment of Lyndon Johnson's war on poverty, Moynihan contends that the much ballyhooed effort was oversold, underplanned and seriously "flawed" in execution. Writes Moynihan in the opening words of the book: "In his first weeks in office the President had proposed 'unconditional' war on poverty; in short order that whole range of metaphor had become embarrassing if not, indeed, obscene." The program quickly became...