Word: sawtooth
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Dates: during 2000-2009
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...technology to win the day, though being able to listen in on coded German communications certainly helped. There was no Kevlar; there were no nightscopes, no cruise missiles or stealth fighters. Instead, Allied engineers invented artificial harbors to tow across the channel and moor once the beaches were won; sawtooth steel tusks were attached to the front of tanks to cut through the Normandy hedgerows; paratroopers used the little clickers that sound like crickets to find one another in the dark. Most of their radios and 60% of their supplies didn't survive the jump...
...December 1980, a week before Christmas, Westport, Connecticut. Paul Newman, known to his friends as ol' PL or Calezzo de Wesso (Bonehead), had asked his buddy A.E. Hotchner (Hotch), sometimes called Sawtooth, to help him with a Christmas project that he was assembling in this basement, which wasn't a basement in the usual sense. There were crusty stones, a dirt floor, crumbling cement, and overhead timbers covered with active cobwebs. Also three long since vacated horse stalls, but the unmistakable aroma of horses remained. A very picturesque place in which to mix salad dressing...
...generous markdown to what it can't figure out. Thus the NASDAQ index fell 12% during election week and plunged again last Monday, crashing below 3000. It bounced back on Tuesday but was dishearteningly choppy the rest of the week. The Dow has been on its own treacherous sawtooth course, breaking the will of many who had expected a year-end rally to take shape...
...yeah. A bear market. Check out the chart. The Dow Jones industrial average, which hit an all-time closing high of 11,723 on Jan. 14, has sunk as much as 16% and in sawtooth fashion has been hitting lower highs since March. The NASDAQ got it much worse. Yes, the rally we've been enjoying the past few weeks has been impressive, fueled by unexpectedly weak economic reports that have, for now, rubbed out inflation fears. Possibly this rally will persist and break the bear-market pattern. But it hasn't yet. Don't rush to redeploy all your...