Profits Often Evasive In Stock Mart Rallies Greer, Philip
When it comes to actually cashing in, stock market rallies are not always what they look like in newspaper headlines. Last weekÛªs big rally was a case in point.</br></br>ThereÛªs no denying that President NixonÛªs change of economic signals caught just about everybody by surprise. Some of the Wall Street pundits claim now that they had an inkling something was upÛÓa change of tone in the PresidentÛªs public statements, the inability to reach a favorite administration contactÛÓbut essentially the Street was as much surprised by the new-new economics as, say, the prime minister of Japan.</br></br>On Monday, for anybody who wasnÛªt looking, the market staged the biggest one-day rally it has ever seen. The Dow Jones industrial average was up nearly 33 points. Volume soared over 31 million shares for the first time. On Tuesday, the Dow became richer by another 11 points. Wednesday was for the profit-takers and the last two days saw little movement either way, but by FridayÛªs close, the Dow still showed a highly respectable gain of 24.90 points for the week.</br></br>LOOKING AT THE week-to-week figures for some specific stocks makes it look as if Wall Street was giving away money. General Motors was up about 7 points. Chrysler was ahead more than 4. Burlington Industries added about 3. Machine tool maker Cincin-atti Milacron climbed nearly 8 points (the stock didnÛªt even trade on the previous</br></br>So it went down the line. Companies that stand to benefit from the lessening of foreign competition because of the import surtax, or those that will save tax money because of the investment credit, or those whose future seemed brighter because of some other part of the Nixon package went soaring.