Dow gains 226, or 6.8%, for the year

The Ticker

June 01, 1993|By Julius Westheimer

As June begins, the Dow Jones industrial average stands at 3,527.43, up 34 1/2 points last week after setting a record close of 3,554.83 on Thursday. For the year, the Dow is ahead 226 points, a gain of 6.8 percent.

JUNE JOURNAL: June has historically been a moderately "up" Wall Street month, edging ahead 0.3 percent on average for the past 41 years. . . . Beginning this week, WBAL-TV (Channel 11) is expanding time for my answers to your "call-in" money questions. I'll help with your problems both at 5:40 a.m. and at 6:40 a.m. weekdays, and at 8:15 on Saturday mornings. We put the call-in number on the screen. . . . For ways to establish a trust that provides income to you for life, followed by a final charitable gift to the Maryland Food Committee, call Linda Eisenberg (366-0600) or write the committee at P.O. Box 1537, Balto. 21203 for the booklet, "Food For Thought." . . . Baltimore Bancorp stock reached a new 12-month high in last week's trading.

WORKPLACE WISDOM: "Landing An Interview: Ways Around 'No' " in Working Woman magazine, June, is worthwhile reading. Excerpts: "When a potential employer says, "I'm really busy; I don't have time to talk to you," respond, "I understand. Let me ask you a quick question. Would you just look over my resume and tell me who I should send it to?" Tactic: When you ask for quick help, it's hard to turn you down. When an employer says, "There aren't any jobs. We'll file your resume and call you if there's an opening," reply, "Thanks, but I've watched how you're shaping the department and I have some ideas. When could we meet briefly?" (The current issue offers readers a 1-year subscription for $10.)

HOPEFULLY HELPFUL: "If you own your own business and employ your child during the summer, you can deduct his or her salary as a business expense." (Straight Talk on Your Money newsletter) . . . "The following mutual funds saw trouble ahead for Philip Morris and got out ahead of the stock's 23 percent plunge on "Marlboro Friday": Fidelity Magellan, CGM Mutual, Wellington, Fidelity Growth, IDS New Dimensions." (Money magazine, June) . . . For $1,000, you may periodically buy some issues of Treasury notes and bonds directly from the Baltimore Federal Reserve branch. Income is free from state income taxes. For details phone 410-576-3300. . . . "Average starting salary for a bachelor's degree graduate today is $26,000, up 1 percent from last year." (U.S. News & World Report, dated today) . . . "The first wealth is health. It's an old truth, and bears repeating, that if you want to work and live life to the fullest, don't take health for granted. Take care of yourself." (Ralph Waldo Emerson)

NOTES & QUOTES: "If you don't mind haggling -- and even if you do -- there are terrific bargains to be had on luxury hotel rooms. You can get up to 60 percent off at 10,000 hotels by giving them a discount code found in a paperback called 'Travelwise,' $18. To order, call 1-800-633-7918." (Forbes, June 7) . . . In April, the percentage of stocks in small investors' portfolios rose 38 percent, the highest level since just before the 1987 crash." (Small Investor Index) . . . "When looking for a financial planner, take your time finding help. The industry is largely unregulated and many salespeople masquerade as financial planners." (Price Waterhouse) . . . "If you can obtain a 5 percent tax-exempt yield, that rate equals a 7.8 percent taxable equivalent return under the proposed 36 percent marginal rate." (Harry B. Gorfine Tax Report. Phone 539-5474 for a copy.)

STOCK WATCH: Barron's, dated May 31, features "Treacherous Territory," a gloomy stock market analysis by three top technicians, Robert Farrell, Richard Russell and Ned Davis. The article is worth studying. . . . "Pessimism has shot up, especially among advisers and futures traders. That's a bullish sign as long as interest rates behave." (Zweig Forecast) . . . "As the economy starts to blossom this year, a sprinkling of lawn-care stocks will add a splash of green to your portfolio; I recommend Barefoot Grass and Scotts." (Todd Berko, Kidder Peabody) . . . "After a rally like last week's surge, dividends have sunk so low that we're in a danger area." (Geraldine Weiss, Investment Quality Trends) . . . Family Dollar Stores, Liz Claiborne, NIKE and Schering Plough are listed under "High Earnings Growth Rates, Modest Price-Earnings ratios" in S&P Outlook, May 26. . . . "This continues to be a very dangerous market. With the breakdowns in bonds and utilities, the Dow rally could be the 'last hurrah.' " (Institutional View) . . . "Hurrah for Dow Jones 3,500 and beyond, the only show in town, overvalued, vulnerable and stratospheric as it is. Just another Hill Street Blues reason to 'be careful out there.' " (Plain Talk Investor) . . . "Bullish breakout hasn't been confirmed by the Utilities or Transports. Since Utilities are usually the first average to top out, their breakdown is a negative." (Futures Trends)

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