"There appears to be justification for 'sensible' bullishness," reported Herbert H. Weitsman of L. F. Rothschild & Co. last week. This cautious appraisal illustrated Wall Street's changing mood. Only a month ago, traders sat in their storm cellars, waiting for the market squall that would knock stocks lower and lower. Since then, noticing patches of blue in the sky, they have gradually emerged. Most Streeters last week felt that the market was not going to take a hard fall, and may even be headed for a strong summer rally. Last week the market rose...
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