Word: peake
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Dates: during 1980-1989
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...York Stock Exchange in the five days ending Aug. 20, an even more spectacular 550 million shares changed hands last week. Before the current rally, the stock exchange had never had a 100 million-share day. Last week trading volume topped that magic mark four consecutive times. The peak of 138 million shares on Thursday shattered the one-day record of 132.7 million that had been set only eight days earlier. Average daily volume before the current spree had been only 52.3 million shares. Says Donald Iseman, a partner in the Neuberger & Berman investment firm and a stock trader...
...excitement sparked predictions by some analysts that the rally would at last carry the Dow Jones average above its peak of 1051.70, which was reached in January 1973. Some heady traders were even talking about the start of a "bull market of the '80s." Said Stan Weinstein, editor of the Professional Tape Reader, a market-advisory newsletter: "This is the real thing. The market will trend higher for at least the next two months, and, at a minimum, the Dow will climb back...
...there is a worldwide glut of the precious gems. The vaults of diamond wholesalers are overflowing with rough as well as cut and polished stones, and the market for investment-grade diamonds has virtually collapsed. A rare one-carat D-flawless-grade stone that brought $62,000 at the peak of the market in 1980 is now worth only $15,000 or less, a decline of more than 75%. De Beers' sales arm, the Central Selling Organization, saw profits tumble 46% in 1981, and Oppenheimer says that an upturn is not yet in sight...
...inflation started to level off and interest rates shot up. That made investments like money-market funds more valuable, and diamonds, gold and other hard assets less attractive. Despite its sharp price increase last week, gold is selling for only about $380 per oz., well below its January 1980 peak of $850. A portfolio of U.S. coins is now worth 15% less than it was a year...
Bald Mountain Lookout. Located above the timberline atop a 6,000-ft. peak in eastern Oregon, this five-acre site was once an observation point for rangers trying to spot forest fires. It is too small to interest developers, but its remoteness and breathtaking views will charm fugitives from city life. Land in the area is going for $300 to $500 per acre...