DJ moves near a record high

The Ticker

October 31, 1991|By Julius Westheimer

Edging to within six points of its all-time high, the Dow Jones average climbed 10 points yesterday, closing at 3,071.78. The Dow indicator stands 631 points, or 25 percent, above its 12-month low reached last October.

LOOKING AHEAD: Historically, November has been Wall Street's third best month, rising an average 1.5 percent over 40 years. Only January and December performed better . . . Tomorrow night, "Wall Street Week with Louis Rukeyser" looks ahead to "The November Market" with guest Peter Canelo, investment strategist, and panelists Carter Randall, Robert Stovall and Mr. Ticker. The Owings Mills-based program marks its 21st birthday next month . . . "Hemlines Take a Dive," says a New York Times fashion headline. Historically, lower hemlines signaled falling stock prices.

CORPORATE QUIZ: William Hottman, Timonium, writes: "It might be fun to see if your readers know what these corporate initials stand for: IBM, AAI, NCR, PPG, CBS, USF&G, RCA, AT&T, SCM." Answers below.

MARKET WATCH (in proportion received): "Avoid the temptation to buy stocks if the Dow Jones average breaks out over 3,065 -- it will be a sucker rally. Eight percent bonds are more attractive." (Business Cycle Monitor) . . . "If the Dow reaches 3,100 and the crowd calls the market 'overvalued,' DJ 3,000 should be the bottom of any pullback." (Market Action) . . . "The Dow will pass 3,200 before the bear market begins. Conservative investors should stay out, sell out, and buy 'put (sell) options." (Professional Investor) . . . "The Dow will swing between 2,800 and 3,100, but will break out on the upside." (Weber's Fund Advisor) . . . "Right now, the best-performing stock market timers are bearish." (Hulbert Financial Digest)

AUTUMN LEAVES: "The collapse of communism is one of this century's most significant events, leading to a decline in global commodity prices. Huge Soviet oil reserves will come on world markets and food prices will drop as Ukranian heartlands modernize and re-emerge as world food suppliers. With U.S. inflation down, stocks will rally for several years." (Deborah Allen, Claremont Economics) . . . "Shop your local mortgage market carefully. Although some banks are asking higher payments, many mortgage companies are eager to do business in this real estate slump." (David Schechner, attorney) . . . "In the last 15 years, one year's total cost at Groton prep school climbed from $4,200 to $18,900." (Forbes)

MARYLAND MEMOS: Since 1973 inception, Rothschild Co. funds under management gained 856 percent vs. 677 percent for the S&P 500. This year to date, Rothschild is ahead 14.3 percent vs. S&P 20.3 percent gain. Phone 539-4660 for charts, graphs and a performance explanation . . . Quiz answers: International Business Machines, Aircraft Armaments Inc., National Cash Register, Pittsburgh Plate Glass, Columbia Broadcasting System, United States Fidelity & Guaranty, Radio Corp. of America, American Telephone & Telegraph, Smith Corona Marchant . . . Highest area CD yields are now at Maryland National Bank, Custom Savings, Eastern Savings, Loyola Federal. (Data from 100 Highest Yields) . . . "Investor Alert," offering mutual fund advice, is free if you send a self-addressed, stamped envelope, to Better Business Bureau, 100 Huntingdon Ave., Balto., Md., 21211.

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