Although the Dow Jones Industrial Average rose...

Although the Dow Jones Industrial Average rose 96 points last week and gave back only 10 points Monday, there was no stampede to buy San Diego stocks, said Irving Katz, director of research at Thomas Green/San Diego Securities.

Of all the San Diego County issues, only three managed gains of more than one point. Molecular Biosystems as up $2.25, Cubic Corp. gained $2 and Maxwell Laboratories gained $1.

Great American Bank rode a roller coaster last week, moving up to $5.75 on the announcement that Ed Wedbush had filed to possibly increase his 17% position and take a more active management stance. However, the subsequent announcements that the S&L;’s auditors were coming back to reassess the final quarter write-downs on Arizona loans caused the stock to drop as low as $3.50 on trading of over 1 million shares on Friday.

Great American stock was also pushed down by an apparently erroneous article in Friday’s Wall Street Journal that stated Great American’s capitalization plan had been rejected by the Office of Thrift Supervision. Both Great American and the OTS denied the report.

Great American’s announcement on Monday that it was hiring an investment banking firm, possibly to help it raise capital, caused the stock to bounce back $.50 on Monday to $4.25.

Intermark Inc. and Triton Group Ltd. finally announced that the two companies would merge with 1.4 shares of Intermark being exchanged for each share of Triton Group. As this was reflected in their market prices with no apparent premium, the stocks adjusted only fractionally.

Kaypro, which finally filed for Chapter 11 bankruptcy, saw its stock drop to the lowest possible quotation of 1/32 and closed the week at 1/16. The stock has been depressed since its continuing announcements of losses and management changes.