Dow Jones industrials dip to 3,848

THE TICKER

October 27, 1994|By JULIUS WESTHEIMER

Dipping for the fifth consecutive session, the Dow Jones industrial average slid 2.36 points yesterday and closed at 3,848.23. The Dow has lost 88 points in the past five trading days.

With Halloween on the horizon, I checked back and found that on "Trick or Treat" day 10 years ago, the Dow indicator closed at 1,207.38. Through yesterday, the blue-chip index had climbed 2,640.85 points, or 218 percent, since Oct. 31, 1984.

SMILING PUMPKIN: If you feel you may win the $6 million Lotto this weekend, read this: "Most people think that winning a lottery would solve all their problems, not create new ones," says Dollar Stretching Ideas, adding, "But even a dream come true arrives with complications you must deal with." The story adds this advice: "Keep quiet about the good news, telling only your immediate family . . . The fewer people who know, the fewer hucksters will be pushing you to buy their products and services . . . Protect your winning ticket . . . Don't miss the claim deadline . . . Get an unlisted phone number and post office box; don't let professional fortune-hunters track you down . . . Buy a home-security system . . . Splurge first, then get serious and invest your money in an orderly fashion."

TREAT, NO TRICK: In an adjoining article called, "How $50 a Month Adds Up," the magazine says, "Here's how an investment of $50 a month, returning a relatively modest 5 percent a year, compounded monthly, would grow over the next 30 years. By the end of that period, the investor would have put in a total of $18,000; interest would add another $23,786, for a grand total of $41,786.

GHOSTS & GOBLINS: "Frank Perdue, 74, has been able to increase sales at his Salisbury, Md.-based chicken farms 25-fold since 1971, to some $1.5 billion a year." (Forbes, Nov. 7) . . . Call Marvin Fribush (576-3220) for his firm's "Fourth Quarter Bond Investment Strategies." . . . The S.& P. Outlook says these banks are merger or takeover candidates: Barnett Banks, City National, First Fidelity, Hibernia, Shawmut and SunTrust . . . T. Rowe Price New Income Fund appears under "Invest- ing in a Moderate-Risk Portfolio" in Smart Money, November . . . Tomorrow, "Wall Street Week With Louis Rukeyser" hosts Katherine Hensel, Lehman Bros.' chief strategist, with panelists Eddie Brown, Maceo Sloan and Martin Zweig.

HAUNTED HOUSE? "Should You Ever Burn Your Bridges?" asks the current National Business Employment Weekly, with the answer, "Some Executives Must Confront Their Bosses To Maintain Self-Esteem After a Job Loss." Highlights: "If you have a substantive reason for taking drastic measures like telling your boss or ex-boss to 'shove it,' your career may survive . . . Sometimes, when you blow up at your boss -- and then quit -- you can successfully start your own business . . . Before quitting, be sure you hold all the aces . . . And if you stay, a heated confrontation with your boss will show that you're willing to assert yourself . . . Be sure you can live with your actions."

WITCHES' BREW: Of all the newsletters, columns, etc., that I have read recently, about 75 percent are optimistic. Samples in proportion received: "It now looks as if most of the popular market averages are on their way to new all-time highs." (Winell Report) . . . "The secular bull market for stocks should stay intact for another three to four years; utilities and Treasury bonds are drastically oversold." (Kidder Peabody Research) . . . "Although we're not very optimistic about stocks, resist the urge to cut and run. We're not on the verge of a multiyear bear market. Interest rates will not trend higher in 1995." (Gerald Perritt's Mutual Fund Letter) . . . "Put reason before greed and consider that breadth indicators are deteriorating at an accelerating pace, and therefore this is a high-risk environment." (Investment Timing Newsletter) . . . "Remember the old saying, 'Fear by the herd produces opportunity.' The fear will soon abate and stock weakness will provide the last opportunity to see these low prices for at least two years." (Market Focus) . . . "There is an inverse reciprocal between the direction of a stock price and the amount of money you have just invested." (Arthur Samansky).

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