While the party seems to be over...

While the party seems to be over for the Japanese stock market, the party seems to be reviving in the United States. San Diego stocks, however, still haven’t received the message as they continue to trade in a narrow range with a few exceptions, said Irving Katz, director of research at Thomas Green/San Diego Securities.

Driven by a dollar that has achieved its highest value against the yen in three years, Wall Street seems to be celebrating the Japanese debacle as large capitalization American stocks have resumed their upward movement.

Only four San Diego stocks managed moves of $1 or more during the past week. PSICOR, which matched its 1990 high of $10.75, gained $2.50 after receiving a favorable recommendation from a stock analyst. Magma Power gained $1.

The largest move downward was by Molecular Biosystems, which fell $2.125 for the week. The stock came under pressure when an analyst for the Chicago Corp. reduced his 1991 fiscal year earnings estimate from $2.50 a share to $.65. This revision reflected the slowing of the approval process for Albunex, the company’s ultrasound imaging agent now in development.

San Diego National Bancorp fell $1 for the week. Rohr Industries was down $.75 as analysts lowered earnings estimates.

Burnham Pacific Properties made a new low of $17.25 shortly after the stock went ex-dividend on Monday, meaning that new buyers of the stock do not receive the upcoming $.34 quarterly dividend. Burnham Pacific stock offers a partly tax-sheltered 7.8% return at its present price.