The Washington times., 1930-06-27
Stocks NOW IN
BUYING RANCE,
BROKERS SAY
Many Prominent Wall Street
Houses Now Venture 0pin-
ions On Mart Conditions

For the first time since stock
prices began crashing about q
month ago, q more optimistic tone
was in evidence in brokerage CIR.
cles today. Several prominent
Wall Street brokerage houses
voiced the opinion that stocks
were now definitely within a long
pun buying range for investment
purposes and that prices were
near bottom. The necessity for
caution and the maintenance Of
liquid position was still highly
stressed, however.
One fact that stands out quite
clearly in the general confusion
is that the major trend Of the
market is downward. At the
moment our Interpretation is that
we are approaching a legitimate
long pull buying point. We feel
that q conservative policy Is to
continue on the Sidelines until
the market confirms q genuine
change in trend.-OTIS d co.
There is Of course fair chance
that prices will go lower. Under
the circumstances the safest thing
to do would be to wait for the
market to break out Of the pres
ent trading range.-STEIN BROS
& BOYCE.
Buy On Weakness
We do not consider that rallies
should be construed as signals for
purchases, and continue our ad
vice to confined buying operations
to periods of market weakness
with the idea Of liquidating on
runups.PEARL 81 CO.
Pending definite change OF
trend we should regard rallies as
opportunities to tighten the stock
load STERN g. CO.
We would prefer to see one
more day Of advancing prices be
fore suggesting trading commit
ments.-EMANUEL & co.
The unfavorable elements in
the present situation have been
discontinued, and for the present
we would buy the best stocks on
reactions, continuing the theory
that low prices recently reached
may prove to be the lows of the
year.-TOBEY g. CLARK.
Urge Liquid Position
Rallies should be used to tighten
holdings rather than take on ad
ditional commitments. especially
when the conditions confronting
the market are none too favor
able.--MELADY & co.
See no reason to turn definitely
bullish, and the best we can hope
for today is that the rally be
sustained through the day, ir
which case the amateur short in
terest might keep stocks at q
fairly stable level. - B A r
COHEN & CO.
If wheat can show some rally
ing tendencies the recovery in
stocks probably will be extended
further-JOHN MUIR & co.
The market will quiet down to
a narrow trading range before
any sustained recovery in stocks
takes place, and therefore see no
haste in buying stocks for invest
ment until prices appear definitely
stabiliZed.-SUTRO b CO.
Sees Rally Brief
Expect the. rally which came
into the market last night to
carry into this afternoons trad
ing. We would not follow this
rally feeling that q large per.
centage of the advance win have
been pretty well accomplished
HORNBLOWER g. WEEKS.
The most sensible attitude to
take on the market is to- look at
prices from q three to six months
angle. which is decidedly 0ptin1iS-
tic.-CUSICK, KENT & CO..
So far there is no reason to
hurry in making fresh long com.
mitments, nor in covering short
commitments, since we feel that
the line of least resistance is
toward lower levels in the major
ity Of Stocks.--UNGERLEIDER d
CO.
1t seems to us that the market
is Scraping bottom and that there
are a number of stocks that could
be bought to advantage within