If we are in a bear market,...
If we are in a bear market, the decline will probably have much further to go, notwithstanding sharp and seductive rally attempts, according to Irving Katz, director of research for Thomas Green & Associates/San Diego Securities.
Investors who hope to cash in on the current market must emphasize quality, avoid risks, and get as liquid as possible for short-term buying opportunities, Katz said. With interest rates falling, bonds would appear to be good investments in this period of uncertainty, Katz said.
Among San Diego stocks, there generally was limited movement in either direction except for a handful of special situations.
First National Bank gained 1 1/8 to 9 7/8 as it was listed Monday on the American Stock Exchange with the symbol “FN.”
Rohr Industries was up seven-eighths Monday on a favorable mention in Barron’s magazine. It closed unchanged for the week, however.
Northview Corp. gained 2 3/4 to 17 upon signing a definitive pact with CalMark Holding Corp. for a tender offer at $22 per share.
Synbiotics was up 1 to 7 as it announced that both SmithKline Beckman and International Minerals & Chemicals independently had made substantial investments in its common stock over the last few months.
Xytronyx was up three-quarters to 7 3/4 after a 1-point gain during the previous week as it signed a long-awaited $2-million pact giving Colgate-Palmolive worldwide distribution rights of a periodontal detection kit.
Fisher Scientific Group was up three-quarters to 14 3/4 as Henley Group announced that it had raised its stake from 72% to 75.2% with the purchase of 247,000 shares. Simultaneously, Henley disclosed that it may sell all or part of its Fisher holdings. Henley was down five-eighths to close at 20.
Cousins Home Furnishings was down one-eighth to 1 3/8. The company will hold its annual meeting at 1 p.m. today at company headquarters.
Energy Factors has postponed the annual meeting scheduled for today in order to entertain an offer by its majority shareholder, Sithe Energies Group, at $6.50 per share. The stock closed Monday up a quarter at 6.
