New Strength for the Boom

Said a Wall Street trader: "When you expect stocks to go down and they simply refuse to do it, it's time to start looking the other way." Last week, so many investors looked the other way that they gave the bull market its second biggest shove since its birth last June. A surge of buying, much of it from notably cautious investment trusts, sent blue-chip stocks soaring as much as eight points, and pushed the Dow-Jones industrial average to 208.09, the highest since June 1946.

There was good reason for the bull-throated roar....

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