Reversing Tuesday's bullish trend, the Dow Jones industrial average slipped eight points yesterday to close at 3,021.02, still ahead 388 points this year and 656 points from last October's 12-month low.
LOOKING AHEAD: "We're entering a new bull phase, perhaps with a pause, that could send the Dow right through its conventional 3,050-3,100 ceiling."(Eakle Report) . . . "By historic norms, the market is expensive. If the Dow goes below 2,950, it could signal an important decline under way." (Tony Henfrey Letter) . . . "We continue our cautious stance." (Inefficient Market Hypothesis) . . . "The stock market continues to be volatile, but with its uptrend still on track." (Prudent Speculator) . . . "As the bulls increase their fervor and conviction about higher stock prices, they're setting themselves up for a fall." (Market Mania Newsletter).
BALTIMORE BEAT: Alex. Brown, Legg Mason and PHH Corp. stocks appeared in the 12-month new high columns recently . . . BG&E and Potomac Electric Power are listed under "Well-Regarded Utility Stocks for Steady Income Stream" in S&P Outlook, Sept. l8 . . . (Ticker Notes: At midweek, both these utility stocks yield about 6.9 percent vs. money market yields now down around five percent. Also, if you had bought BG&E 10 years ago, you would have tripled your money and would now be receiving about 20 percent return on your 1981 investment.) . . . Black & Decker and Preston Corp. are listed under "20-Percent-Plus Estimated Earnings Gains, High Rankings" in same S&P Outlook . . . Highest local insured money market and CD yields in latest "100 Highest Yields" include Maryland National Bank, Custom Savings, Loyola Federal, Chevy Chase Savings and Eastern Savings.