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By Julius Westheimer | October 16, 1998
ALTHOUGH THE Dow Jones average soared 330 points yesterday, the market has suffered many sharp declines.Investors should relax."A 300-point Dow Jones drop is less than 4 percent with the Dow at 8,000," says Moneypaper. "Sure, it's painful, but not as rough as a 300-point drop in 1988 (14 percent) or in 1978 (22 percent). When a broadcaster says, 'The Dow fell 100 points today,' it translates to 'The Dow fell 1.25 percent today.' "Did you realize that in the 1973-1974 bear market, the "Dogs of the Dow" strategy -- buying the 10 highest-yielding Dow Jones stocks and rebalancing the list one year later -- eked out a 2 percent gain while the Dow Jones average plunged 32 percent?
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NEWS
January 10, 2006
The Dow Jones industrial average closes above 11,000 for the first time since June 2001, boosted by a five-day rally that has sent stocks soaring this year. The advance yesterday followed a 241-point surge last week as investors grew increasingly optimistic that the Federal Reserve will soon end its string of interest-rate increases. [Article, Page 1C]
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BUSINESS
By Julius Westheimer | June 17, 1998
WHERE WILL THE stock market go from here? Where should you put money now?"When is enough enough? The answer is now. The average stock fund rose 11.51 percent in the first quarter. If that performance continues, this year's gain will be 60.79 percent, an unreasonable expectation. Count your blessings, count your profits and start selling." (Investment Quality Trends.)"Don't be misled by occasional surges in the Dow Jones average. More important than blue-chip strength is the broad market's horrid action.
BUSINESS
By Julius Westheimer | October 16, 1998
ALTHOUGH THE Dow Jones average soared 330 points yesterday, the market has suffered many sharp declines.Investors should relax."A 300-point Dow Jones drop is less than 4 percent with the Dow at 8,000," says Moneypaper. "Sure, it's painful, but not as rough as a 300-point drop in 1988 (14 percent) or in 1978 (22 percent). When a broadcaster says, 'The Dow fell 100 points today,' it translates to 'The Dow fell 1.25 percent today.' "Did you realize that in the 1973-1974 bear market, the "Dogs of the Dow" strategy -- buying the 10 highest-yielding Dow Jones stocks and rebalancing the list one year later -- eked out a 2 percent gain while the Dow Jones average plunged 32 percent?
BUSINESS
By Julius Westheimer and Julius Westheimer,Contributing Writer | February 24, 1995
When the closely watched Dow Jones industrial average closed above the 4,000 "barrier" for the first time yesterday, many people wondered exactly what that event meant to Wall Street and, more importantly, to their pocketbooks, pension funds, mutual funds, 401(k) plans and other accounts.Is the move significant?"Every move the Dow Jones average makes has significance," )) says Kenneth Battye, veteran Legg Mason stock broker, adding, "The Dow sank as low as 41 back in 1932 and today it's up around 4,000.
BUSINESS
By Julius Westheimer | June 25, 1992
Edging up despite the rail strike, the Dow Jones average added five points yesterday, closing at 3,290.70. In this context I recall something my father, a New York Stock Exchange member, once told me: "Son, contrary to what people may tell you, don't sell good stocks on strike news. Strikes generally mean that business is good."WHERE FROM HERE? "Stocks have held up thanks to bond strength, but momentum is breaking down and weakness plus deflation will accelerate the bear trend. Remain in cash."
BUSINESS
By Julius Westheimer | September 15, 1992
Surging in the wake of Germany's long-awaited interest rate reduction, the Dow Jones average vaulted 70 1/2 points yesterday to close at 3,375.22. At this point the Dow indicator stands only 38 points below its all-time high of 3,413.21 set in May.MIDMONTH COMMENT: "The Dow Jones average will fall 50 percent or more during the next two years." (Investment manager Morris Markovitz in Barron's, dated yesterday. See below for summary.) . . . "With low interest rates, low inflation and the dollar now climbing, it's dangerous to be out of the market."
BUSINESS
By Julius Westheimer | July 2, 1992
Surging ahead as the second half of 1992 opened, the Dow Jones average gained 35 1/2 points yesterday to close at 3,354.10. For the year's first six months, the Dow indicator advanced 149 points, or 5 percent, sharply outperforming the NASDAQ over-the-counter index, which fell 4 percent.LOOKING AHEAD (from "Wall Street Week with Louis Rukeyser"): "44 percent of all stocks are down 30 percent this year, but the second half of election years is generally better. However, the Perot uncertainty poses a problem."
BUSINESS
By Julius Westheimer | September 17, 1992
Buffeted by turmoil in foreign exchange markets, the Dow Jones average fell eight more points yesterday, closing at 3,319.21. Combined with Tuesday's 49-point plunge, the two-day loss has erased 81 percent of Monday's 70-point surge that followed Germany's tiny interest rate reduction.AFTER THE PLUNGE: Following Germany's dramatic, long-awaited cut in interest rates, we have heard or read these Wall Street comments: "The German interest rate reduction means growth, growth and more growth of worldwide economies, and that's bullish for stock and bond markets."
BUSINESS
By Julius Westheimer | February 14, 1991
Surprising most observers, the 1991 bull market continued to charge ahead yesterday in heavy trading. When Wall Street opened today, the Dow Jones average stood at 2,909.16, up 34 points Wednesday and ahead 544 points (23 percent) since last October's low.CURRENT COMMENT: "Over the next few months, we'll see choppy waters, but the basic trend is up. We now call this a bull market, not a bear market rally." (Halvorson Research). . . "We'd love to see prices keep on going to new all-time highs, but we just don't see it. We see a still-deepening recession, war and continuing threats to Persian Gulf oil fields."
BUSINESS
By Julius Westheimer | June 17, 1998
WHERE WILL THE stock market go from here? Where should you put money now?"When is enough enough? The answer is now. The average stock fund rose 11.51 percent in the first quarter. If that performance continues, this year's gain will be 60.79 percent, an unreasonable expectation. Count your blessings, count your profits and start selling." (Investment Quality Trends.)"Don't be misled by occasional surges in the Dow Jones average. More important than blue-chip strength is the broad market's horrid action.
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 24, 1996
NEW YORK -- U.S. stocks retreated yesterday as Treasury bonds suffered their worst decline since July 5, driving down bank and other financial issues.The Dow Jones industrial average slipped 10.73 to 5,722.74, after unexpectedly strong factory orders for durable goods in July fanned concern that inflation will quicken, sending bond yields to their highest point this month.J. P. Morgan & Co., Minnesota Mining & Manufacturing Co. and Exxon Corp. led the Dow's decline, trimming its gain for the week to 33.29 points, or 0.59 percent.
BUSINESS
By BLOOMBERG BUSINESS NEWS | August 10, 1996
NEW YORK -- U.S. stocks suffered a late decline yesterday as a jury dealt the tobacco industry a stunning defeat in a product liability case, a decision that sent shares of Philip Morris Cos. and other cigarette companies reeling.The slump came after a Florida jury found B.A.T Industries PLC unit Brown & Williamson negligent in the case of a smoker who developed cancer.Losses in Exxon Corp. and dozens of computer-related stocks worsened the slide.The Dow Jones industrial average slumped 32.18 to 5,681.
BUSINESS
By Julius Westheimer and Julius Westheimer,Contributing Writer | February 24, 1995
When the closely watched Dow Jones industrial average closed above the 4,000 "barrier" for the first time yesterday, many people wondered exactly what that event meant to Wall Street and, more importantly, to their pocketbooks, pension funds, mutual funds, 401(k) plans and other accounts.Is the move significant?"Every move the Dow Jones average makes has significance," )) says Kenneth Battye, veteran Legg Mason stock broker, adding, "The Dow sank as low as 41 back in 1932 and today it's up around 4,000.
BUSINESS
By Julius Westheimer | September 17, 1992
Buffeted by turmoil in foreign exchange markets, the Dow Jones average fell eight more points yesterday, closing at 3,319.21. Combined with Tuesday's 49-point plunge, the two-day loss has erased 81 percent of Monday's 70-point surge that followed Germany's tiny interest rate reduction.AFTER THE PLUNGE: Following Germany's dramatic, long-awaited cut in interest rates, we have heard or read these Wall Street comments: "The German interest rate reduction means growth, growth and more growth of worldwide economies, and that's bullish for stock and bond markets."
BUSINESS
By Julius Westheimer | September 15, 1992
Surging in the wake of Germany's long-awaited interest rate reduction, the Dow Jones average vaulted 70 1/2 points yesterday to close at 3,375.22. At this point the Dow indicator stands only 38 points below its all-time high of 3,413.21 set in May.MIDMONTH COMMENT: "The Dow Jones average will fall 50 percent or more during the next two years." (Investment manager Morris Markovitz in Barron's, dated yesterday. See below for summary.) . . . "With low interest rates, low inflation and the dollar now climbing, it's dangerous to be out of the market."
BUSINESS
By Julius Westheimer | August 25, 1992
Continuing to edge lower in what a local broker calls "Chinese water torture," the Dow Jones average lost 26 points yesterday to close at 3,228.17. Down in five of its last six sessions, the Dow stands 185 points below its all-time high and only 60 points above the New Year's Day level.AND NOW WHERE? (In proportion received): "We have seen enough bear tracks to convince us that this is a high-risk time to buy stocks. Don't expect bear markets to be announced on 'Larry King Live,' as one usually arrives like a thief in the night."
BUSINESS
By Julius Westheimer | November 29, 1991
The Dow Jones average fell 16 points Wednesday, closing at 2,900.04.Here are DJ figures for Thanksgivings past, decimals dropped: 5 years ago (1986) 1,920; 10 years ago (1981) 880; 20 years ago (1971) 800. The Dow has more than tripled over 10 and 20-year spans.WHAT NEXT? "There was a marked increase in bullishness over the last three weeks among market timers who have beaten the market over the last five years." (Hulbert Financial Digest) . . . "Most analysts focus on whether stocks will rise or fall.
BUSINESS
By Julius Westheimer | September 8, 1992
Falling after investors digested gloomy unemployment news, the Dow Jones average lost 10 points on Friday, closing at 3,281.93. But on Labor Day weekend 10 years ago the Dow stood at 925.15, about to vault 2,357 points, or 254 percent, in a decade.WALL ST. WATCH: "Presidential election is creating downward stock bias. Looking back over 70 years, stocks fell in five of six instances in the three months prior to election when the incumbent party lost."(Zweig Forecast). . . "We still look for new highs in the Dow Jones 3,450 area."
BUSINESS
By Julius Westheimer | August 25, 1992
Continuing to edge lower in what a local broker calls "Chinese water torture," the Dow Jones average lost 26 points yesterday to close at 3,228.17. Down in five of its last six sessions, the Dow stands 185 points below its all-time high and only 60 points above the New Year's Day level.AND NOW WHERE? (In proportion received): "We have seen enough bear tracks to convince us that this is a high-risk time to buy stocks. Don't expect bear markets to be announced on 'Larry King Live,' as one usually arrives like a thief in the night."
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