The stock market seemed to have everything...

The stock market seemed to have everything going for it this past week, according to Irving Katz, director of research for Thomas Green/San Diego Securities.

“Its favorite son, George Bush, took office on Friday, the Dow Jones Industrial Average was within striking distance of the level reached before the October, 1987, stock market collapse and the National Football Conference won the Super Bowl,” Katz said. “All of that portends an up year for 1989.”

But, despite the positives, the Dow Jones Industrial Average was down 16.97 Monday.

Among San Diego County firms, Cubic Corp., for no apparent reason, rose to a 52-week high of $18.50.

Pancretec, the largest percentage local gainer in 1988, continued to forge ahead, recording a new high of $10.625. Pancretec’s earnings, which were released on Monday, were $.14 in the second quarter and $.22 for the six-month period ended Dec. 31.

DH Technology gained $.655, to $6.375, after a favorable comment by Equity Research Associates, which forecast 1989 earnings of $.85 to $1 a share.

Most other stocks were not helped or hindered by news events. Intermark, which reported good earnings, was down $.25; Mission West, which reported a poor quarter, was down $.125, and Xytronyx, whose president resigned, gained $.125.

Gen-Probe gained $.75, to $3.875, rebounding from its 52-week low of $3. Price Co. dipped $.75 as it was dropped from Goldman Sachs’ recommended list. Henley Group “A” dropped $4, to $66.25.

New lows were reached by Imperial Corp. of America, at $7.50, Western Health Plans, at $.50.