Word: whipsaws
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...baskets of securities that can be bought and sold in the future. They are primarily designed to let investors protect their portfolios against sudden market changes, especially in a form of trading known as portfolio insurance. But since the crash, they have been called speculative instruments that can whipsaw the market as a whole. Many experts argue that Black Monday's cataclysmic spiral was triggered by a panic sale of index futures by managers trying to shore up their holdings...
...loving precision with which they portray a young boy's painful need to grow up and an old man's passion to recall his youth. If only Steinbeck, an innately modest man, had been more modest as a writer, he might not have been destined to whipsaw himself between the pretentious and the trivial. It was his bad luck that he happened to be one of the last writers to dream, in all innocence, of writing the Great American Novel...
...begins with no music, just a whipsaw wind. Through the gauze of dusk forms a cluster of stars-no, a spider's web -the filigree work of predestination, trapping every animal who will pass through this forest. A fox sprints over the tall grass, fear in her eyes, an infant fox dangling from her clenched teeth. A gunshot sounds; a flock of birds rises from the grass. The fox is dead, her infant an orphan. Happy summer, boys and girls! This is the new Disney cartoon feature...
...internal divisions handed the Soviet leadership an irresistible opportunity to whipsaw us. The Kremlin would stress its eagerness to begin negotiations on SALT, for example. While the White House would try to gear our response to overall Soviet conduct, the rest of our Government would find innumerable ways, from press leaks to informal hints, to let it be known that it was ready, nay eager, to start talking. Thus the better part of our first year was spent in convincing both the Soviets and our own bureaucracy that we intended to base our negotiations on a calculation of the national...
...journey. At Czestochowa, where the revered painting of the Black Madonna is enshrined, the Pope led half a million pilgrims in an elaborate consecration of Poland and the universal church to Mary, the "Queen of Poland" whose veneration runs deep in the Polish consciousness. On Thursday, caught in a whipsaw of emotions, he went immediately from a fond visit to his picturesque home town of Wadowice to the still standing symbol that epitomizes human evil: Auschwitz. The concentration-camp site, he told a huge, hushed throng, is "the Golgotha of the modern world...