After having moved up gradually over the...

After having moved up gradually over the past four weeks, the Dow Jones Industrial Average experienced a rapid reversal Monday, giving up 17 points, according to Irving Katz, director of research for Thomas Green/San Diego Securities.

Surprisingly, some San Diego stocks managed new highs in a market that seems to be treading water, Katz said. Burnham Pacific Properties was up $.375 and made a new high of $19.50.

Magma Power continued to record new highs as it rose to $16.375, up $2 in the past two weeks. Rohr Industries moved up $1 to $31.375 as it reported fourth-quarter earnings of $.52, up from $.40 in the comparable quarter a year ago, with good prospects for the coming year.

PS Group was up $2.125 for the week, closing near its yearlong high of $33.50. The stock has gained $5 since the revelation that Warren Buffet had invested in the company. With its policy of not communicating with shareholders or analysts except at annual meetings or as required by the Securities and Exchange Commission, PS Group has shed little light on Buffet’s investment, Katz said.

Great American First Savings Bank was up $.50 as it continued to gain on its unrealized and unrecognized value of its Freddie Mac preferred stock holdings and recent increases in insider buying.

On the down side, Kaypro hit a new low of $.375. Kaypro’s positive announcement of factory-direct sales was counteracted by a negative article in Business Week, Katz said.

IRT, which has negotiated to sell some of its major divisions, closed near its year low of $.75. Selling near its 52-week low was Precision Aerotech, which announced earnings of $.07 versus $.11 a year ago.