Pushed lower by profit-taking and the collapse of Barings PLC bank in England, stocks gave up some of last week's gains yesterday. The Dow Jones industrial average slipped 23.17 points and closed at 3,988.57, still 154 points, or 4 percent, above its Jan. 1 level.
AND NOW WHERE? "March has historically been a strong month in Wall Street, rising an average of one percent over the past 44 years," says the 1995 Stock Trader's Almanac. (Ticker Note: At today's Dow Jones level, one percent equals about 40 points). Other data from the almanac: Best stock market day of the week: Friday. Worst day: Monday. Strongest hour of the day: 2 p.m.-3 p.m. Weakest: noon to 1 p.m. ("Buyers out to lunch; sellers eat at desk, watch tape, fret.")
YOUR COMMENTS: More predictions from your entries in our stock market contest: "Dow Jones will end year at 4,040. Good earnings, plus history of strong third year of presidential term, and this will be best one in 40 years." (James Guercio) . . . "It'll be 4,101. Market will make big move with Republicans in charge of Congress." (Fred Murray Jr.) . . . "Third year of presidential cycle; up and away to 4,716." (Dennis Benson) . . . "Clinton presidency will continue downward, meaning good cheer for our economy. I pick 4,208." (Garry Bolan)
MONTH-ENDERS: "Just before the federal income tax law was passed in 1913, an opposition senator stated, 'If we pass this 1 percent foot-in-the-door, at some future date it might rise to 5 percent." (Bits & Pieces) . . . Speaking of taxes, our federal and Maryland returns are due in just under seven weeks (Monday midnight, April 17.)
"Generally speaking, hold tax records a long time, but if your desk looks like a junkyard you can toss out anything over three years old. The IRS has missed its chance if it doesn't audit your 1991 tax return by this April 17." (David Silverman, tax consultant)
"One in four women now earns more than her husband. And when the woman earns more, both partners are ambivalent about female power. They try to hide it, like a shared secret, but it sneaks out." (Psychology Today, March-April, in a good story, "Battle Of The Bucks.")
HOPEFULLY HELPFUL: "Registering stocks in your broker's name is wiser than in your own name. It's easier to execute transactions because no delivery or signatures are required, and if you change brokers it requires only a wire transaction between custodians." (Peat, Marwick Financial Planning Division)
"Government auctions offer great bargains if you know where to look. Call the Department of Defense (1-800-468-8289) and ask for a list of bases that will hold auctions in the near future." (George Chelekis, author, "The Official Government Auction Guide," Crown Publishers, $25)
MONEY SAVERS: "You can easily cut $1,000 a year from your expenses: (1) Clean lint from your dryer, saving $40 on fuel and electricity. (2) Switch to compact fluorescent bulbs, costing more but lasting much longer, saving about $300 a year. (3) 'Brown bag' once a week, saving $300 vs. company cafeteria. (4) Raise your automobile deductible insurance, pocketing $300 annually. (5) Make long-distance calls at off-peak times, like evenings, later at night and weekends, saving $71. Total savings from above: $1,011." (Dollar Stretching Ideas)
FEBRUARY FINAL: "Always remember the old saw: 'The time to buy stocks is when blood is running in the streets.'" (Mark Hulbert in Forbes, Feb. 27) . . . "These days, five-year Treasury notes yield almost as much as 10-year government bonds, with only a fraction of the risk." (Smart Money, March) LOCAL SCENE: Black & Decker is listed No. 7 under "Industrial and Farm Equipment" in Fortune's March 6 cover story "America's Most Admired Corporations: How Companies Rank in 41 Industries." (Deere stands No. 1). Westinghouse ranks No. 10 under "Electronics & Electrical Equipment. (Motorola is No. 1). Each category lists 10 companies.
"Loyola Capital is a quality thrift stock selling at book value," writes Legg Mason's Gerald Scheinker. Mr. Scheinker will send you his firm's latest report on the company if you phone him at 486-8010. The report adds, in part, "Given the outside possibility of a takeover, the shares are deserving of a slight premium to book value."
MORE ON BALTIMORE: Call PaineWebber's Marvin Fribush (576-3220) for "Do You Know How To Reach Your Investment Goals?" . . . On Thursday, March 9, Baltimore Security Analysts present "The Good and Bad News About Financial Analysts," with speaker Louis Lowenstein, Columbia University professor, at the Stouffer Harborplace Hotel, at noon. . . . Baltimore Gas & Electric stock is listed under "Portfolio For a Steady Dividend Stream," in S&P; Outlook, Feb. 22. BGE pays its dividend in early January, April, July and October. The article lists 24 stocks in a month-by-month, yearlong table "to create a reliable and consistent stream of dividends," of interest to investors who like their income spread out evenly over the year.