STATE OF BUSINESS: Fast Finish

Department stores had never seen anything quite like it. Across the land, a surge of buying sent sales to an alltime record the announcement that the short interest (i.e., the number of shares sold short in anticipation of a decline) had risen 61,311 shares in the last month to 2,267,481, the highest since July 1932, was good news to the bulls. They argued that a further advance would result when the bears scurried to buy back the shares they had sold short. And any decline, ran the argument, would be cushioned...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!