MARKETS: June Boom?

Through April, May and early June last year — while 1938's recession was bottoming—the stockmarket was indigo blue. At 10 a. m. on June 20, something happened. The market turned in its tracks and began to climb. Blue turned to rose color. For two weeks stocks climbed spectacularly. So far as the market was concerned the corner had been turned. Last week something resembling the June turn of a year ago, but on a much smaller scale, took place in the market. Brokers talked jubilantly of another corner being turned.

Shorts. Biggest resemblance...