RAPID PRICE CHANGES
WALL STREET TRADING
PECULIAR FORM OF ACTIVITY.
(United Press Association.) (By Electric Telegraph—Copyright.) NEW YORK, November 4. Several billion dollars were clipped from market values of stocks, as what was a quiet market compared with the recent frenzied trading, saw bewildering price changes. The market was variable when it opened well down with great blocks of stocks being traded. Then trading dropped off and the market gained, after which prices ranged back and fortli during the day until just before dosing, when they broke again and the close was lower. There were various expressions of opinion regarding the market’s peculiar form of activity, but nobody seems to know the definite causes. It is agreed, however, that the temporary advances brought out profit taking and further selling of support stocks, and in the opinion of traders this unloading process will require considerable time, in view of the tremendous amount of stocks taken last week, to prevent the break from going too far. The market will be dosed on November 5 (election day). It is also announced that it will be dosed at 1 o’clock on Wednesday, Thursday, and Friday to enable the brokers to catch up.
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Bibliographic details
Otago Daily Times, Issue 20867, 6 November 1929, Page 9
Word Count
198RAPID PRICE CHANGES Otago Daily Times, Issue 20867, 6 November 1929, Page 9
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