If we are in a bear market, the decline will probably have much further to go, notwithstanding sharp and seductive rally attempts, according to Irving Katz, director of research for Thomas Green & Associates/San Diego Securities.
Investors who hope to cash in on the current market must emphasize quality, avoid risks, and get as liquid as possible for short-term buying opportunities, Katz said. With interest rates falling, bonds would appear to be good investments in this period of uncertainty, Katz said.
Among San Diego stocks, there generally was limited movement in either direction except for a handful of special situations.
First National Bank gained 1 1/8 to 9 7/8 as it was listed Monday on the American Stock Exchange with the symbol "FN."
Rohr Industries was up seven-eighths Monday on a favorable mention in Barron's magazine. It closed unchanged for the week, however.
Northview Corp. gained 2 3/4 to 17 upon signing a definitive pact with CalMark Holding Corp. for a tender offer at $22 per share.