Stocks surge to new highs

The Ticker

February 13, 1992|By Julius Westheimer

The Dow Jones industrial average forged into record territory yesterday, gaining 25 points to close at 3,276.83, now ahead 108 points this year and 643 points, or 24 percent, since Jan. 1, 1991.

LOCAL STAR: MNC Corp. (Maryland National Bank) surged 3/4 of a point yesterday, a 9 percent gain, closing at 8 3/4 . Within the last 12 months you could have bought all you wanted for around $3 a share.

WATCHING WALL ST.: "This is the sixth consecutive week in which our 'elves' [technical indicators] flashed a 'buy' signal." (Louis Rukeyser on "Wall $treet Week."). . . "The bull market isn't over yet. Buy General Motors and other cyclical stocks." (Frank Cappiello). . . . "Stocks have further to go, with the Dow index at 3,750 before year-end." (Maceo Sloan). . . . "Dow Jones utility index shows weakness, which could cause a sell-off soon." (Pinson's Investment Digest). . . . "We anticipate a Dow Jones 250-300 point up-move within 90 days and equivalent moves on broader averages. Don't be out of this market." (Risk Report.)

BACK TO EARTH: "Suppose someone offered you a pistol with six chambers -- one is empty, five loaded. You're told that if you put the gun to your head and pull the trigger -- assuming you don't blow your brains out -- you'll win a million dollars. If you're the kind of person who would grab the gun and pull the trigger, then go ahead and buy into today's stock market. But if the game doesn't appeal to you, then stay away from stocks, or at the very least, cut back on your holdings." (The Big Picture, Stephen Leeb.)

LOCAL LINE: Through Dec. 31, the Rothschild Co. accounts, since its 1973 inception, are ahead 928 percent vs. S&P 500 index gain of 752 percent. For last year, Rothschild was up 22.8 percent vs. the S&P 30.4 percent advance. Explaining, Rothschild says: "The comparison S&P index consists entirely of stocks, while our funds are balanced accounts." Call the firm (539-4660) for complete details, charts, graphs, etc. . . . Legg Mason's Gerald Scheinker (486-8010) will mail his firm's Investment Letter, with 12 recommendations. . . . Phone Smith Barney's Rick Faby (494-1853) for a fine 25-page "Pollution Control" investment report. . . . Harry B. Gorfine Co. (539-5474) will mail "Using a Disclaimer to Save Estate Taxes."

MARYLAND MEMOS: MNC Financial and Signet Banking popped up in midweek 12-month "New High" listings. . . . T. Rowe Price & Associates Inc., is written up favorably in The Patient Investor. ("Business is booming at T. Rowe Price. The company is well-positioned to benefit from increasing emphasis on personal savings, the emergence of defined contribution retirement plans and the return of the individual investor to the equity markets, particularly to smaller growth stocks for which the company is so well known."). . . . Westinghouse Electric, with a large facility in this area, is listed under "Stocks That Would Benefit From Acceleration in Capital Spending" in S&P Outlook, Feb. 5. . . . U.S. Surgical, widely held here, is recommended by five newsletters followed by Hulbert Financial Digest.

ENDPAPERS: Tomorrow night, "Wall $treet Week with Louis Rukeyser" spotlights Midwest stocks. . . . I will answer your money questions on WBAL Radio, Saturday between 8 a.m. and 9 a.m. . . . Only two months left before 1991 federal and Maryland income tax returns are due. . . . In response to many requests, here is subscription information for National Business Employment Weekly: Write Tony Lee, P.O. Box 300, Princeton, N.J., 08543.

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