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.
“As Dow Nears 10000, Some See Bears Ahead, read yesterday’s headline across the top of the page after Friday’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 yesterday’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.
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Perhaps the Murdoch massacre of the copy desk and the driving effort to reduce the number of hands touching a story finally has results. And it doesn't seem like very good ones.