Word: rhea
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...despite Franklin Roosevelt's request for a primary. Happy waited until Laffoon left the State, then called a special session of the Legislature, to order a primary. Furious, Laffoon got it made a double primary, calling for a run-off between the two leading candidates. His man. Thomas Rhea, won the first round but Happy won the runoff, then threw himself into an election campaign that took him into every Kentucky hamlet from Big Sandy to Mills Point. Aided by Senator Barkley and Franklin Roosevelt's prestige, he beat Judge King Swope, Republican, by 96.000 votes. Then...
...Theorists, of whom there are an immense number (TIME, June 20), this was enormously significant-if the rail averages confirmed the industrials by breaking through their previous high of 23.5, it meant a decisive change of trend. Two days later, rails, highballing after industrials, went to 24.9. To Robert Rhea, leading exponent of the Dew Theory, this was "more bullish than anything seen in the averages for more than two years." But Robert Rhea warned that though this meant that the secondary trend (wave) had changed from bear to bull, there was still no proof that the primary trend (tide...
...tipster, 50-year-old Robert Rhea likes to regard his subscribers as students, tries to teach them to read the auguries themselves. He warns them that the theory is not infallible, is not very definite, shows direction not distance, often gives no positive signal until much of the movement has passed. That it has worked for High Priest Rhea, Certified Public Accountant O. M. Williams certifies as follows: "I have audited the accounts of Robert Rhea and those of a corporation and two trusts operated by him and for his benefit. . . . My findings were that on total transactions [over nearly...
...March 1937, High Priest Rhea. although he could not say definitely that a bear market was beginning, cautioned his subscribers to think of protecting profits they had made in the bull market since 1932. Six months later, the Dow Theory gave a definite signal that the U. S. was in a bear market (ebb tide), had been in it since March. Thus, because it was succeeded by a wave with a lower crest and a lower trough, the March wave was proved to have been the high mark of the 1932-37 incoming tide. When September's definite signal...
...ebbing (i.e., primary movement tending downward), a 7-point rise in the industrial average since May 31 encouraged a bullish hope that ripples might top previous crests of 121 for the industrials, 23.5 for the rails, thus show the current wave to be coming in. This week's Rhea letter said that every upward zig-zag step, if confirmed by both averages, would be bullish, but a downward zigzag prior to penetration of 121 and 23.5 would mean danger...