Little has happened during the past week to make the general industrial outlook more cheerful, except perhaps a rally in stock prices. At this writing, the recovery in the stock market is still difficult to interpret with complete assurance. Nevertheless it bears the appearance simply of a "covering movement" by previous short sellers, and is consequently of mainly technical and temporary significance. It is noticeable that the stockmarket has given no real signs of accumulation, and that the strongest stocks have generally been those whose declines had produced a large "short...
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