Industrials Average moved up almost eight points, but no speculative ferment seems to be brewing and traders are taking profits, says "The Trader" in "Barron's Weekly."
The only commission house buying worth noting was 60.000 shares of miscellaneous issues, including utilities by two firms, While technically the market situation is sound, the rise reflects the scarcity of offerings: more than accumulation, Over-subscriptions were prompt in the off-market of 14000 shares pf Inland Steel, 12,000 shares of International Shoe and 6,000 shares of Dome Mines.
Woolworth, which faces an early dividend cut, is actually above what the 50,000 share block brought recently, showing that the market is not waterlogged, The widespread priorities are disrupting civilian production any buying, but it has still not been proved that the Federal levies and higher costs will entirely consume the increased national income.
Though stocks still seem to be under accumulation rather than on the eve of an extended rise, the maintenance of a liquid position is akin to assuming a defensive role in warfare, The risks of a static war position require no demonstration.
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