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SAN DIEGO MARKET WATCH

August 12, 1986

A number of local stocks moved up after Monday's rally as confidence seemed to return to the market, according to Irving Katz, director of research at San Diego Securities.

Great American First Savings Bank rose 1 3/8 as a bond market rally fueled stocks sensitive to interest rates. Institutional holdings in Great American have steadily increased and now total about 52%.

That's less than the 81% institutional holdings at Home Federal Savings & Loan and bodes well for a stock that analysts say will earn $2.90 per share this year. The stock is selling at 20 7/8, with a price-to-earnings ratio of 7.2.

Titan Corp. rose one-half to 9 3/8 after announcing another acquisition and responding to a new Value Line earnings estimate of 65 cents per share this year.

Handyman was up one-half on reporting operating earnings of $1.5 million. Last year, all earnings were from gains from real estate sales, Katz said.

Price Co. after dropping to 32 3/4, closed the week at 36, down 2 3/4. The stock was buffetted by lowered opinions from two stock analysts, who predicted that earnings growth would slow because of increased competition.

Longtime holders, however, took it in stride, Katz said, because the company has always been known as a volatile stock.

Cipher Data Products dropped 1 on announcement of a forced vacation for 850 employees.

IRT dropped three-quarters to 6 7/8, recovering from the 6 level it sold at after last week's annual meeting, as the company's chairman emphasized that the first quarter earnings aren't indicative of annual profits.

Fabulous Inns dropped five-eighths to 2 7/8, as a large block of stock--purchased from a former director as part of an out-of-court settlement--had to be absorbed into the market.

Infrasonics warrants to purchase stock at $1.20 expired Monday, and, as most were probably exercised, the stock moved up one-quarter to 1 7/8, said Katz.

Syntro Corp. found some support after a disastrous first week of trading, and closed up one-quarter to 6.

Decom Systems rose only one-eighth after reporting third-quarter earnings of 12 cents per share--compared to losses last year--and the sale of its specialized mobile-radio business.

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