Hal Morris, writing on his Grumpyeditor.com blog, noted that a story in The Wall Street Journal’s Money & Investing section on Monday had the same angle on the market as a story that ran three months before.
Morris writes, “Is the Bull Pulling Up Lame? was the main line in the June 22 edition with the Dow Jones Industrial Average at 8539.73.
“As Dow Nears 10000, Some See Bears Ahead, read yesterdayâ€™s headline across the top of the page after Fridayâ€™s Dow closed at 9820.20 — up 1280 from three months earlier.
“Both stories, appearing on Mondays, were written by staffer E.S. Browning.
“‘Many analysts believe that stocks are again in such a turbulent period (as in the 1930s and the 1970s), and that this rally could lead to another slump,’ Browning wrote in yesterdayâ€™s paper.
“In the June 22 version, Browning said: ‘Many analysts see a pullback ahead, and they are debating whether it will be just a temporary annoyance or something bigger and more painful.’ He went on to mention, ‘Pessimists think the damage could be greater, and the real pessimists worry that stocks could fall to new lows by autumn.'”
Read more here.