You can't keep a good market down.

Or so it seems with the

Dow Jones Industrial Average

, which fell after the opening bell on investor worries about a weaker dollar, a sagging bond market and nervousness over

Fed Chairman Alan Greenspan's

congressional testimony later this week.

But the down period lasted roughly half an hour and then the market leaped solidly into positive territory. The bond market also turned upward.

Investors used the soft market as an opportunity to buy blue-chips, such as

IBM

(IBM) - Get Report

and

Merck

(MRK) - Get Report

, both of which climbed.

In other market news,

Converse

(CVE) - Get Report

said it expects its first-quarter sales will climb 50% above the year-earlier levels. The stock was up a bit although Converse also reported a fourth-quarter loss.

Brown Brothers Harriman

upgraded

BankAmerica

(BAC) - Get Report

,

Citicorp

(CCI) - Get Report

and

Chase Manhattan

(CMB)

to near-term buys, despite their already lofty prices. All three rose slightly.

Credit Suisse First Boston

released its two stocks of the week --

Clorox

(CLX) - Get Report

and

IDEC Pharmaceuticals

(IDPH)

. While both initially were off in early-morning trading, they most recently had at least small gains.

Finally, for those considering whether now might be a good time to become a vegetarian comes this news. The

Department of Agriculture

projects flat beef production this year, followed by declines in 1998 and 1999. The culprit: falling cattle inventories.

By Erle Norton

enorton@thestreet.com