Word: selloff
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...good fit. Pittsburgh, the nation's 14th largest steelmaker, lacks modern galvanizing facilities that Wheeling has in quantity. Pittsburgh's finishing capacity should help Wheeling recapture lost customers. Best of all, the two plants are linked by cheap water transport, the Ohio and Monongahela rivers. Despite his selloff, Simon kept a 4% interest in Wheeling (100,000 shares). If the price climbs eleven points from last week's close of 21⅜, Simon could yet escape from his bath in steel with a profit...
Black & Blue. Because the institutions deal largely in the stock of big, established companies, the latest selloff has particularly hurt the traditional blue chips. Result: the Dow-Jones index of blue chips has sold off 6.8% while the much broader Standard & Poor's index of 500 stocks has dropped...
...connoisseur's collection of African voodoo drums and five-foot spears? Answer: at the New York World's Fair, where the greatest sale of surplus goods since the big postwar auctions of military gear is about to take place. As the Oct. 17 closing date approaches, the selloff by the Fair's 300 exhibitors is beginning in earnest...
...digits," said Monte Gordon, chief analyst for Bache & Co. "When there's selling pressure, believe me, you really feel it on the floor." The market broke sharply and declined 12.46 at midweek, going through the previous week's low and causing brokers to brace for a weekend selloff. It never came. The averages vacillated between gain and loss at week's end as investors obviously tried to decide just what they wanted to do. Chartists who follow the complicated Dow theory of market prediction debated whether the market had given a bear signal by piercing last December...
Here and there, a paper sensed the significance of the market's movement and pushed the story briefly onto Page One. The Tulsa World kept the story on Page One three days running (STOCKS SKID TO NEW LOW ON SELLOFF). In the San Francisco News-Call Bulletin, the market story surfaced twice. But such foresight was rare...