STATE OF BUSINESS: Bull Fever, Bear Facts

In Wall Street they tell of a trader who bought Chrysler near its depression low of 5, sold it near its 1937 high of 135¼, traded thousands of shares and yet lost a few hundred dollars on the stock. Reason: instead of sitting tight and letting the bull market work for him, he was in and out of Chrysler several times a day, buying on meaningless rises, selling on fractional declines.

Last week, with business dropping rapidly from its end of 1939 peak, the stock market started upwards from its recent doldrums, sprinted...

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