Word: stockly
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Dates: during 1950-1959
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...without Washington's knowledge, the local ICA mission had arranged for a Bangkok company, Universal Construction Co., to handle the job. One explanation emerged in testimony last week before a House subcommittee; Edward T. McNamara, husky ICA public-works officer in Laos from 1955 to 1957, admitted receiving stock and cash amounting to more than $12,000 from Universal "for assistance rendered by me in establishment of the contract...
After four weeks in the doldrums, the stock market came to life last week, pushed into uncharted territory. The Dow-Jones industrials clipped through the old high of 614.69, climbed 18 points for the week to a new record of 624.06. Reflecting week-by-week increase in car-loadings and higher rail earnings, the Dow-Jones railroads climbed to a new 1959 high of 168.92, up 5.81 for the week, and highest since 1956. What encouraged Wall Street about the advance was that the market leadership came from such old-line blue chips as American Telephone & Telegraph and International Business...
...predict the course of the stock market, Wall Streeters have tried everything from the height of tides to the frequency of sunspots. The most practical tools are charts that show the price changes of individual stocks as well as the action of the market as a whole. Chartists are powers in the Street; on what their charts show, institutions, mutual funds and thousands of individual investors buy and sell. In this select group of experts, who can often send a stock zipping up-or down -the leading chartist is generally recognized to be Edmund W. Tabell, 55, the tall...
WHAT Tabell uses chiefly in judging the market is his 1,400 "point and figure" charts of individual stocks. For the complete technical picture he also charts daily market volume, number of issues traded, new highs and lows, and odd-lot trading. For point-and-figure charts (also used by other chartists) he notes each change of a point or more in a stock (½ point if the stock is under 20). By the pattern thus established, he determines whether a stock is going to move straight up or down or merely back and fill. In an upward move...
...reason why charts can predict a rise, says he, is a simple one. "When the top officers know that a company has taken a turn for the better, they start buying the stock themselves, or tell their friends. This buying shows up on the chart. As a new pattern forms, it is not hard to project what the stock should...