Word: marketed
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Dates: during 1960-1969
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...easiest ways to predict the future, according to a widely held Wall Street belief, is to assume that the public-or small investor-is wrong in sensing major changes in the market. Thus such chartists as Jacques Coe, senior partner of Jacques Coe & Co., keep close tab on whether the public is buying or selling by watching the trading in odd lots (fewer than 100 shares). Coe contends that the public is timid about buying as the market rises, usually buys heaviest near...
...When the market slides, as it did for two months, Coe holds that the public, while buying more than it sells on the way down, finally becomes cautious. When the public gets really worried, it begins to sell short in substantial amounts in the belief that the market is going still lower. When this occurs, the market is due for a rally. During the market's lows last month, Coe's charts showed that this had happened; he rightly predicted a rally. Last week, as the Dow-Jones industrial average continued to rally, closing at 622.47, Coe expected...
Another school of technicians, typified by Lowry's Reports. Inc., pins most of its faith on a charting method -called breadth of market studies-that is widely used by other Wall Streeters. What Lowry's does is chart volume of stocks advancing and declining, correlate these figures with price gains and losses. The Lowry's chart shows whether buying power is stronger than selling pressure, and the reverse. Currently, the chart indicates that buying power, while weaker than selling pressure, is getting stronger...
Such chart experts as Walston & Co.'s Edmund Tabell and Du Pont Homsey & Co.'s G. S. Colby rely heavily on point and figure charts that carefully note every price fluctuation in hundreds of stocks, as well as the changes in market averages. A basic part of the theory is that the longer a stock or a market average stays in a narrow trading range, the greater will be its rise-or fall-when the stock or average breaks out. Tabell, who advised his clients to sell in January, now says: "The industrial average has begun to form...
...major criticisms by many a Wall Streeter of the technical approach to the market is that the technicians often cannot agree on what the charts signal. Last month, when the Dow-Jones industrial and rail averages dropped through their previous lows, such classic Dow theorists as Richard Russell held that a bear market was on (TIME, March 14). But another group of Dow theorists, led by E. George Schaefer of Indianapolis, argued that it was a false bear signal: the market was really getting ready to rise to new highs...