Moving 32 points higher yesterday on heavy volume, the Dow Jones average erased Tuesday's 1 percent loss. When Wall Street opened today the Dow indicator stood at 3,255.81, or 24 percent above its 2,619.06 level one year ago.
WHAT NEXT? "Long term, we're still on the buyers' side. Our indicators, including the risk model, say last December's major buy signal should boost stocks to Dow Jones 3,500-3,800." (Smart Money) . . . "Our composite barometer remains bullish, but clearly the risk is there. Just remember what happened in 1929 and 1987, the only other times the dividend yield sank below 3 percent. The alternative to 3.5 percent CDs is stocks, until they fall and then the rush to the exits will be furious. We will avoid overstaying." (No-Load Mutual Fund Newsletter) . . . "Become more humble as the market goes your way." (Bernard Baruch, successful investor).
BALTIMORE BEAT: Tomorrow night, locally produced "Wall $treet Week with Louis Rukeyser" looks at "The 1992 Stock Outlook" with guest Bill Dodge, Dean Witter chief strategist, and panelists Alan Bond, Marty Zweig and Mr. Ticker. . . . Two stocks widely held locally, U.S. Surgical and Duty Free International, were among last year's top Big Board performers, according to Fortune, Jan. 27. Ranking No. 10, Duty Free shot up from $14 to $50, up 261 percent, and U.S. Surgical climbed from $36 to $111, ranking No. 18, ahead 212 percent. For comparison, the S&P 500 stock index climbed 26.3 percent in 1991. At midweek, BG&E and Potomac Electric Power yielded about 6 1/2 percent; BG&E just announced a three-for-two stock split.