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Newspaper
Press Telegram
Location
Long Beach, California, United States of America
Date
May 28, 1966
Page
2
The analysis notes a deep oversold condition after a recent decline, with the Dow Jones Industrial Average showing a rebound and the S&P sector mixed. It projects an intermediate rally over 3 weeks to 3 months, with potential upside toward 910-927 and possibly up to 930-940 if a compressed May-June range builds momentum.
Red flags and buy signals mix as Lao Savannakhet markets show potential upside after a May decline. Viet Daily notes patterns similar to last year with tests of May highs, while several names such as General Instrument and Magna Vox attract attention amid liquidity shifts.
The market closed mixed with many leading issues lower as profit taking rose amid a long holiday weekend. Interdealer activity showed subdued volume and cautious trading, while analysts said sentiment improved yet does not confirm an advancing phase.
Verdun France UP I reports the start of all French Verdun commemorations marking the 50th anniversary of the battle. President Charles de Gaulle will lead two days of ceremonies in a primarily French event with no Allied veterans invited.
In Abertillery Wales Welshmen debate adopting the kilt to boost the Welsh woolen industry. Council chairman Brinley Evans advocates the garment saying it could unify Celtic ties and support local mills. Ronald Jones, an eight year old, is noted in coverage.
A pacific coast exchange sparks talk of Welsh kilts with jstoreman and army cadet force captain urging hearings. Evans cites historical evidence while Welsh officials and museum keeper reject the idea as impractical and insulting to tradition. A street remark in Welsh adds tongue in cheek to the controversy.
Mor ris Gold, head of Barker Brothers and Gold Realty, files a 700000 damage suit against state and city officials in Superior Court. He accuses Lt. Gov. Glenn M. Anderson Mayor Samuel W. Yorty and Chief William Parker of negligently inciting last August's riots in South Los Angeles. The suit requests action against police in riot dispersal and earlier National Guard deployment.
Dr Martin Luther King Jr announces a Chicago drive to ease slums using tent-ins in white suburbs to spotlight open housing. A June 26 rally will launch a summer of nonviolent action with marches to City Hall and a Soldier Field gathering.
In Augusta Georgia Fred Ansley stalled on a railroad track as a freight train approached at 20 mph. The impact shoved his car 25 feet. Ansley was shaken but not seriously hurt. The incident occurred Friday in a stacked traffic jam with the train passing through.
San Diego assessor office witness testified tax consultants reduced inventory figures by nearly 140000, misreporting receivables over six years. The firm identified as Eastman Kodak Co San Diego branch allegedly used altered data. Cox faces bribery conspiracy falsification charges, Loebler and Yeow charged with conspiracy. Jurors in San Francisco resumed deliberations after 60 days of hearings in a multi defendant bribery and conspiracy case. Descriptions mention James Tooke Jordan Van Cleve and others linked to Spring field New York and Castro Valley.
Italian Christian Democrat party leader and former Council of Europe official Ludovico Benvenuti, age 67, died Friday in Somma Lombardo following an automobile accident. He served as secretary and general secretary for the party and held prominent regional roles.
In Louisville, hospital staff opted to “live with the situation” as a belligerent hawk attacked workers at St. Joseph Infirmary. A falconer, Brown of New Albany, said the young birds caused the male to be unusually protective, with aerial attacks and near-misses over scaffold work. The hawks are expected to return in four to five days.
Washington investigates a second breach in one week as premature crop storage rate data for 1966 surfaced in North Dakota hours before public release. The probe also covers an early soybean acreage allotment disclosure linked to President Johnson's food for peace program. The inspector general leads inquiries into possible security breaches and market impact, amid storage rate debates and regional grain activity in North Dakota and Kansas.
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