Word: shakeout
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...bound still lower? It had plenty of room to fall. The Dow-Jones industrials could lose almost 50 points and still be higher than the 212.50 level from which the 1946 market began its decline. But the outlook for profits and dividends gave little solid reason for a major shakeout. By all indications, 1953's profits will be at least 10% higher than 1952's. Next year, with the Excess Profits Tax removed, many companies will be able to earn more on lower sales. And the fact that there are so many bears might be an argument that...
Another big shakeout came in copper, once one of the most critical shortages. As free trading in copper was resumed on the London Metal Exchange for the first time in almost 14 years, spot copper, which had been artificially pegged by the British government at 31? a Ib., nosedived to 26.3? on the first day. Before the week ended, the price was back up to 28?, but coppermen felt that this was only a short reprieve. Britain has not yet begun to sell copper from its null stockpile, and Chile, which has kept 65,000 tons off the market...
...week shakeout in the market was the worst since the start of the Korean war. The Dow-Jones industrial average, which hit a bull-market peak of 293.79 in January and stayed close to there until March, was down 23 points from the high. The drop canceled out all of the gain of the post-election "Eisenhower boom," and put the average right back to where it was Nov. 6. But while the drop was big, the market itself was still high, e.g., at last week's low the industrial average was still 58 points above the 1946 peak...
Simultaneously, corn, wheat and other commodities took their worst tumble in the long slide that began last summer, causing some pessimists to croak that depressions always begin when stocks and commodities fall together. But few businessmen thought that last week's flurry was anything more than an overdue shakeout. Furthermore, the tax season often drops the market in February...
...will not take up the slack for many companies for a long time, nor will arms production yield anywhere near the profits of peacetime goods. Yet not even many of the bears believe that the bull market is about to end for good. The worst they expect is a shakeout to 225 or 200 in the Dow-Jones average, followed by a new upsurge to still higher ground...