WALL STREET: Playing With Blue Chips

In a Beverly Hills brokerage office last week, a veteran trader cocked an indolent eye at the New York Stock Exchange quotations. "It's hardly any fun any more," he complained. "I don't even have to watch the board for moves. Market goes up about $1.50 a day, so who am I to try to outguess it?"

Wall Street's big bull market was almost that automatic. For weeks it has been moving upward almost as regularly as an escalator. Last week, slowly, steadily, unspectacularly, it kept right on rising. With a gain of 2.17...

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