New highs continued to be made in...

New highs continued to be made in the general averages through Friday of last week but investors--while remaining bullish--are keeping one foot outside the door as evidenced by Monday’s profit-taking, observed Irving Katz, director of market research for San Diego Securities Inc.

Price Co. was down 1 1/2 to 46 3/4, with no news announcements, and WD-40 dropped 1 3/4 to 32 as investors took into account this year’s lackluster earnings and Value Line’s lowered earnings estimates for the year.

Fisher Scientific Group Inc. was down one-half to 18 3/4, but still remains up 50% since its distribution from the Henley Group, Katz said. Henley Group bucked the trend and gained seven-eighths to 27 3/4, as investors continued to revalue the company’s portfolio of loss-ridden companies.

The largest drop of the week was recorded by Sym-Tek Systems Inc., down 3 1/2 to 14 as it reported a first quarter loss of 30 cents versus profits in last year’s comparable quarter of 22 cents.

The loss reflected continued weakness in the demand for capital equipment by the semiconductor industry, and production difficulties associated with Sym-Tek’s new product line, Katz said.

Great American First Savings Bank came in with excellent second-quarter earnings, Katz noted, but dropped five-eighths to 17 3/4, where it sells at a significant discount to its book value of $26.14.

Among the good gainers of the week were Beeba’s Creations, up 1 1/2 to 16 on a favorable report in Business Week, which discussed the potential of the JCPenney’s investment for 10% of the stock at $18.75. Earnings projections of $1.40 for next year and $2 for 1989 helped propel the stock, Katz added.

Agouron Pharmaceuticals was up one to 11 after the company’s first public presentation. Agouron President and Chief Executive Peter Johnson gave the report last week to the Financial Analyst’s Society of San Diego.