WALL STREET: A Question of Identity

In Wall Street, where there are some 1,150 purveyors of market letters to keep investors well informed, there had not been so much confusion in years. The trouble was that the experts violently disagreed on whether the upsurge in stocks in the last two months was a short term upswing in the bear market that had started last fall, or a new, rampaging bull market.

This question had split the experts into three groups: 1) the Dow theorists, who kept their noses close to their charts;

2) the "horse-sense" school, which kept its eyes on production...

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