Berlin Crisis Blamed
Midweek saw a vigorous upward drive following some fairly sluggish consolidation the week before. The averages might have hit a new peak, despite profit-taking, if not for the heightening Berlin crisis which led to nervous selling on Thursday.</br></br>The market was at its best on Wednesday when the second biggest daily jump of the year was achieved. This session was marked by solid gains of blue chip stocks as well as continued activity in secondary issues. The move served notice that the big institutional investors thought prices were not going much j lower, not for the present, anyway, j</br></br>This big leap was enough to put \ the market ahead on the week and chalk up the second straight week- ; ly rise.</br></br>The Associated Press average of 80 stocks rose S2.50 to S206.90. At its best closing high on Wednesday the AP average stood at S207.50. only 20 cents below the record of S270 70 reached Nov. 20.</br></br>Wall Street chartists found comfort in the fact that the Dow industrials had successfully negotiated a resistance level in the 550-560 area. Whether the AP average and the Dow would make another historic peak before the yearend was anybodyÛªs guess.