The market ran into profit-taking Monday as the dollar fell to new lows, according to Irving Katz, director of research for Thomas Green/San Diego Securities Inc.
The profit-taking followed three weeks of good gains that had helped some stocks recover from the Oct. 19 crash that resulted in many companies being sold indiscriminately, according to Katz.
Many small-capitalization stocks and companies that completed initial public offerings during 1987 moved up moderately from their lows during recent weeks. However, investors looking for good values might consider the many stocks that remain at or near their current lows, according to Katz.
All of the local savings and loans are selling at below their book values and at unusually low price/earnings multiples, according to Katz. Lows for the group were: Great American First Savings Bank, 10 3/8; Home Federal Savings and Loan, 18 7/8; Imperial Corp. of America, 7.