Newsgroups: comp.ai.neural-nets,misc.invest,misc.invest.canada,misc.invest.stocks,misc.invest.technical
Path: cantaloupe.srv.cs.cmu.edu!nntp.club.cc.cmu.edu!godot.cc.duq.edu!news.duke.edu!news-feed-1.peachnet.edu!gatech!howland.reston.ans.net!pipex!uunet!psinntp!isc-newsserver!ritvax.isc.rit.edu!BKV2673
From: bkv2673@ritvax.isc.rit.edu
Subject: NeuroQuant Profiles (10/9/94)
Message-ID: <1994Oct9.204623.15470@ultb.isc.rit.edu>
Sender: news@ultb.isc.rit.edu (USENET News System)
Nntp-Posting-Host: vaxa-eth.isc.rit.edu
Reply-To: bkv2673@ritvax.isc.rit.edu
Organization: Rochester Institute of Technology
Date: Sun, 9 Oct 1994 20:46:23 GMT
Lines: 588

  /---------------------------------------------------------------------\
\/                                                       (tm)            \/
/\               "N E U R O Q U A N T   P R O F I L E S"                 /\
\/               .......................................                 \/
/\  Market prediction through the  application of emerging technologies  /\
\/-  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - \/
/\ Last Update: Oct 2nd, '94                   This Update: Oct 7th, '94 /\
\/                           Volume 1, Issue 7                           \/
 \-----------------------------------------------------------------------/
       | RESEARCH: The NEUROQUANT natural & artificial brain models.... /
        \--------------------------------------------------------------/
                 | For Information: Call Al or Nipun at (716)424-8170 /
                  \--------------------------------------------------/

/----------\
 THIS ISSUE
\----------/

        * We've manaaged to remain on the +ve side this past week.
	  Models liquidated losing positions quickly; we also got
	  stopped out of positions we'd like to have otherwise held;

	* Salient closed positions:

			CS	+34.28%
			POT	+10.34%
			HL	+10.60%
			CYM	-6.15%
			JR 	-5.18%
			MOT	-6.16%
			GP	-2.0%

	* Open Stock/Options:

			SMLS	+114.80%
			MOB	+21.89%
			USS	+10.49%
			CBRL	+12.64%
			PHSYA	+5.13%
			IIF	-3.33%
			WIN	-0.58%
	
		2 Losers out of 19 Open Positions

	* Very confusing signals from models. We expect a lot of
	  volatility;

	* New Signals:
		
			CHIR, C, ABX, AKLM, FTL, ELY, WSGC

/---------\
 QUOTABLES
\---------/

        Therefore armed struggle is considered profitable...

                                        The Art of War
                                        Sun Tzu

/------------\
 NET THOUGHTS
\------------/

        The proliferation of technology is just one of the many factors
that is making markets more efficient. Investment timeframes and market
movements have compressed giving the technologically able untold
opportunities for profits. Markets evolve - we cannot trade and expect
to win by using archaic techniques like 3-10 day moving average crossovers,
or RSI 30-Buy and 70-Sell rules. But looking back at the way markets
evolved under a given set of conditions certainly helps as it provides
an important statistical profile, a step to stand on if you will.

        And all market participants are always trying to find meaning of
the market's action to hopefully see where it is headed in the future.
And all of us wish we were super traders but don't really see or cannot
stand the pain some of them have gone through to get where they are.
Every single trade is a cerebral battle fill with emotions in a perpetual
war. And at the back of our minds we wish we had a lot of experience to
guide us through. Until someone finds a way for time to reverse, the
hope of the first hand experience will remain a wishful fantasy, a
dimension between a long trade and a short one, if you will.

        Any way of getting around this? Any way of having someone who's
willing to answer questions that'll give you the experience edge? Sure!
Ask Morgan!! Morgan, ladies and gentlemen, is the fastest brain on Wall
Street. And Morgan is not a person!! Morgan is the name given to a
"fantastic" product (Sun Sparc, lightening quick Software, and a multi
Gigabyte disk) by a company called "Logical Information Machines". Morgan
is a hybrid between a database, analytical tool, historian and a smart
experienced trading partner who understands English so you won't have to
learn an esoteric programming language to ask questions of the sort: 'What
are the best stocks to own/disown when interest rates, the CPI, gold or
unemployment rises?', 'Which industries top out first and turn up first in
market cycles?', 'What combination of indicators gives the best sell
signal in a bull market, the best buy signal in a bear market?'..and on to
more complex ones, complexity limitless, limited by your mind! It is THE
knowledge/experience box to have on your desk.

        If you're serious about becoming a good trader and are serious about
finding out what goes on behind it in terms of technology, you need to get
serious about Morgan. Logical Information Machines can be reached at
(312)987-0055. Highly recommended!

/------------\
 MARKET SCOPE
\------------/

	Replete with uncertainty, volatility and capricious minds. Friday
was especially confusing with the unemployment data pointing in one
direction, the non-farm payrolls numbers in another and the news from the
Middle-East adding yet another directional twist. Our equity and fixed
income models point downwards amidst all the confusion. A weak precursor
to a renewed Middle-East crisis as well as short covering could explain
the weak strength in the US Dollar. As we had predicted the Dollar did not
make any convincing move whatsoever above the 100 Yen level. We expect this
to continue, with Saddam's mind being the key  factor.

	While we thought that the SP-500 (SPX, 455.10) would break strong
resistance at 465 and top out at around the 467 level it did not do so. The
S&P's failed to break our 465 level and follow through onto the 467-470
level. Instead it broke below our critical level of money flow at 459 and
hit another important support level at 449 at its low for the week. The
S&P's are currently poised at a level that spells uncertainty. On a purely
technical basis we would give a top on the S&P's at 459-460, and a higher
probability of a move down to the 444 level if the 449 level is broken.
Since then we've seen a trading range between 452-455. We have repeatedly
been stressing on these particular levels. We attribute this short term
upsurge of the S&P's to a combination of false strength in the US dollar,
bonds, and economic numbers. Underlying technicals make us believe that
the right side is the bear side.

	The SP-100 (OEX, 421.56) also broke key support at 427 and
at its low was at 416. Upside resistance is now at around the 424 level,
which corresponds with the 200 day moving average. We believe that the
index will break down from the 417 level. The SP-400 (MID, 171.55) also
spells the same story. Strong upside resistance between 174 -176 and
critical downside support at around the 168 level. We think this will move
down.

	The Dow Jones Industrial Average (DJIA, 3797)  showed a lot of
weakness and went down to retest key support at 3752, the region around
its 200 day moving average. On a technical basis we expect a weak, short
term rally in the index, to around the 3830 level. A break and a close
below 3750 should likely set us up for a move down to the 3680 level. The
Dow Jones Transports (DJT, 1444) have shown, continue to show a lot of
weakness.  This may be the index that may lend future direction to the
markets, likely down. The Dow Jones Utilities (DJU, 178.42) seem to be
showing a semblance of strength, a key support level between 172-175. We
are inclined to believe that this will be broken.

	Our call on the pullback in the Philadelphia Precious Metals Index
(XAU, 125.76) was right. We see strong support somewhere between 122 and
down to 119, which corresponds to the 150 day and 200 day moving average
respectively. We expect a likely test of support at this band, and then a
move up.

	Our call of strength on the AMEX Oil Index was also right, thanks
due to the mother of all oil/precious metal market movers. We would not
like to take undue credit for this - Thank someone in a bunker somewhere
in Iraq. We expect the craziness to fizzle, but expect technical strength
in the oil markets after a pullback.

	On the foreign front, the French CAC-40 (CACF, 1856.3) is at a very
critical technical level. A break of 1840 should set us up for a multi-year
low. The Frankfurt DAX-40 (DAX-R, 1977.6) is also poised at a critical level.
With elections coming mid-month it would be hard to lay a finger on likely
direction. Technically we think it is poised to go down. In Hong-Kong, the
Hang-Seng (HKH, 9284) sits precariously on the 200 day moving average -
expect this to move down. In London, the Financial Times-30 (FTSE, 231.05)
also looks weak.

	In all, there is a lot of uncertainty in the markets. We have a
whole slew of numbers coming the following week. What the Fed will do, only Fed
and
the good lord knows. Two weeks ago we were faced with the same problem and
featured a multiple option strategy between the OEX and the SP-500 indices.
Strategies like that would be a good way to play these volatile markets.
We've outlined the idea below...

	In the issue dated Septemeber 25th, we featured an option strategy
that was in essence long volatility and short the market. We sold the rich
Oct 420 OEX Calls at $11 3/4, bought the Oct 465 SPX Calls at $4 1/4, and
also bought the Oct 455 SPX Puts at 4 1/2... for a net credit of $2 1/2.
For single contract trades, as per Friday's close the OEX Put closed at
$5 5/8, the SPX Call at $15/16, and the SPX Put at $4...for single contract trad
es on all
sides, this amounts to free money of $4 3/4, margin not included in
calculation.


/-------------------------------\
 NEUROQUANT GLOBAL ASSET MANAGER
\-------------------------------/

        The NeuroQuant Global Asset Allocator uses 10 asset classes and
is a program that is for conservative investors seeking a return of
12 - 15% annually with a Beta of 0.35. This Beta roughly translates to
about a third of the risk of the equity markets. Such a portfolio can be
easily constructed using no-load mutual funds.

        We have made a slight change in allocation - increasing Gold
& Precious metal holdings at the expense of equities.

        US Equities (Growth)     5% (e.g., Invesco Dynamics)
        US Equities (Value)     13% (e.g., Fidelity Value)
        US Govt. Bonds           5% (e.g., TRowe Price US Long Term
        International Equities  10% (e.g., TRowe International Stk)
                                 5% (e.g., Lexington Worldwide Emerging Mkts.)
        International Bonds     10% (e.g., TRowe Price International Bond)
        Utilities                5% (e.g., Fidelity Utilities Income)
        Precious Metals         11% (e.g., Invesco Gold)
        High-Yield Bonds        14% (e.g., Fidelity Capital Income)
        Real Estate              8% (e.g., Columbia Real Estate Fund)
        Cash                    14% (money market funds)

/---------------------\
 SIGNAL OUTLOOK/REVIEW
\---------------------/

        Last week was a very tough one. Nerves were tested, heads scratched,
models reworked and brows sweated. In all, we came out in the black. Sell
Stops took effect and got us out of positions in the nick of time...and of
course, we also got stopped out of positions we would have liked to hold
otherwise. Among the ones we would have liked to hold were Potash (POT, $40,
+10.34%), Cabletron (CS, $47, +34.28%), Intl Paper (IP, $78, +4.45%), Lam
Research (LRCX, $39 3/4, -0.9%) and Hecla Mining (HL, $13, +10.6%).

        On the open positions, out shorts worked out wonderfully well and
we're thrilled. The signal portfolio did not get badly hit because it was
balanced well. In fact, out of 19 open equity positions we have 2 losers!

	For those of you who wonder why our models elect to take profits
or losses when percentages are small, we'd like to inform you that this
electronic forum is being read by several institutional followers, too.
They can come out on tops by paying commissions that are non factors.

/------------\
 STOCK ALERTS
\------------/

        The table below lists stocks that the NeuroQuant models picked as
having the best emerging outlook and potential for profits in the near and
intermediate term. The last column lists conditions under which technical
criteria would be best satisfied for trade entry/exit, and whose fulfilment
would most likely warrant a trade by our models. All signals with an
"Attractive" rating are moved to the portfolio.

        New Additions          : CHIR, C, ABX, AKLM, FTL, ELY, WSGC
        Deletions              : PX, BCC


*===========================================================================*
 Likely    Security        Profile          Technical Comments
 Position  & Ticker        & Date               & Alerts
*===========================================================================*

LONG      Chiron           $60              Crossing $60 3/8
          CHIR             10/9/94          SELL STOP $57 1/4
----------------------------------------------------------------------------
LONG      Chrysler         $44 5/8          Crossing $45
          C                10/9/94          SELL STOP $42 1/2
----------------------------------------------------------------------------
LONG      American Barrick $25 1/4          Crossing $25 1/2
          ABX              10/9/94          SELL STOP $24 3/8
----------------------------------------------------------------------------
LONG      Accliam Ent      $17 7/8          Crossing $18 1/4
          AKLM             10/9/94          SELL STOP $16 1/2
----------------------------------------------------------------------------
LONG      Williams Sonoma  $32 1/2          Crossing $32 7/8
          WSGC             10/9/94          SELL STOP $31 5/8
----------------------------------------------------------------------------
LONG      Callaway Golf    $35 1/4          Crossing $35 5/8
          ELY              10/9/94          SELL STOP $33
----------------------------------------------------------------------------
SHORT     Fruit of Loom    $24 5/8          Crossing below $24 3/8
          FTL              10/9/94          BUY STOP $26
----------------------------------------------------------------------------

/-------------\
 OPTION ALERTS
\-------------/

        Listed below are options that we feel offer a potential for profit.
However, since conditions may change rapidly the trade scenario contained
below may quickly become outdated and the stance of our models may change.
All option positions that are to be opened, or are open need to be tracked
carefully and as such may not be suitable to all investors. This is meant
only to alert you -- seek your adviser for decision making.

*========================================================================*
Likely     Option Series          Profile Price     Technical Comments
Position   & Ticker                  Date              & Alerts
*========================================================================*

LONG       Chrysler Oct 45 C        $1                Attractive!
           CJIJI
--------------------------------------------------------------------------
LONG       American Barr Oct 25 C   $5/8              Attractive!
           ABXJE
-------------------------------------------------------------------------
LONG       Fruit of Loom Oct 25 P   $3/4              Attractive!
           FTLVE
-------------------------------------------------------------------------
LONG       International Paper
STRADDLE!     Oct 75 Calls (IPJO)   $1 3/4            Attractive!
              Oct 75 Puts  (IPVO)   $1
-------------------------------------------------------------------------

/-----------------------\
 OPEN PORTFOLIO - EQUITY
\-----------------------/

        Following are the stock signals that are currently being kept open
by our models. All of them were featured in the EQUITY ALERTS section. When
technical conditions indicated were fulfilled they were added into the
portfolio:

==============================================================================
Security          Entry Price   Curr Price   %Change      Technical
Name &  Ticker    and Date                                Comments/Stops etc.
==============================================================================

Cisco Systems     $27 3/8        $27 5/8     +1.09%       Sell Stop $26
CSCO              10/2/94
----------------------------------------------------------------------------
Nike Inc          $58 1/2        $60 1/4     +2.99%       Sell Stop $58
NKE               10/5/94
----------------------------------------------------------------------------
Banyan            $16 1/2        $17         +3.03%       Sell Stop $16
BNYN              10/5/94
----------------------------------------------------------------------------
Solectron         $25            $25 1/2     +2.0%        Sell Stop $24 1/2
SLR               10/5/94
----------------------------------------------------------------------------
Pacific Hlth      (S) $79 1/8    $75 1/4     +5.13%       Buy Stop $77 1/2
PHSYA             10/3/94
----------------------------------------------------------------------------
Starbucks         (S) $23        $23         +/- 0%       Buy Stop $24 1/4
SBUX              9/30/94
----------------------------------------------------------------------------
Tribune Co.       (S) $55 3/4    $53         +5.18%       Buy Stop $56 3/4
TRB               9/27/94
----------------------------------------------------------------------------
Winn Dixie        (S) $50 3/8    $50 5/8     -0.58%       Buy Stop $52 1/4
WIN               9/26/94
----------------------------------------------------------------------------
Biogen            (S) $54 1/2    $54 1/2     +/-%         Buy Stop $56
BGEN              9/19/94
----------------------------------------------------------------------------
TRW Inc.          (S) $72 3/4   $71 1/4      +2.10%       Buy Stop $73 3/8
TRW               9/20/94
----------------------------------------------------------------------------
Federal Express   $61 5/8       $62 7/8      +1.94%        Sell Stop $59 3/4
FDX               9/26/94
----------------------------------------------------------------------------
EMC Corp          $20           $19 7/8      +0.65%        Sell Stop $18 5/8
EMC               9/28/94
----------------------------------------------------------------------------
Mark IV Indus     $21 1/2       $22 1/4      +3.48%        Sell Stop $20 7/8
IV                9/12/94
----------------------------------------------------------------------------
Cracker Barrel    (S) $24 1/2   $21 3/4      +12.64%       Buy Stop $22 7/8
CBRL              9/6/94
----------------------------------------------------------------------------
American Xpress   $29 1/4       $29 5/8      +1.43%        Sell Stop $28 1/2
AXP               9/6/94
----------------------------------------------------------------------------
US Surgical       L $23 7/8     $26 3/8      +10.49%       Sell Stop $24
USS               8/14/94
----------------------------------------------------------------------------
Spectrum Signal   L $5          $5           +/- 0%        Great Play!
Processing       '93 to 3/94
SSPIF
----------------------------------------------------------------------------
India Inv Fund    L $15         $14 1/2      -3.33%       Great Play!
Fund (Morgan St)  2/94                                    Models will buy on
                                                          weakness
----------------------------------------------------------------------------
Colossal          L $1.50Cdn    $1 1/2Cdn    +/-%         Hold!
Resources         7/93 - 1/94
CLP.V
----------------------------------------------------------------------------

/------------------------\
 OPEN POSITIONS - OPTIONS
\------------------------/

============================================================================
Option                Signal Price       Current Price      %Change
Series                  Date
============================================================================

Banyan Oct 17 1/2 C    $7/8               $3/16            -78.56%
BNQJW                  10/2/94
--------------------------------------------------------------------------
Cisco Jan 30 C         $2                 $1 7/8           -6.5%
CYQAF                  10/2/94
--------------------------------------------------------------------------
Scimed Life Oct 40 C   $2 1/2             $5 3/8           +114.8%
SMQJH                  9/26/94
----------------------------------------------------------------------------
Coca Cola Jan 50 C     $1 3/4             $1 3/4           +/- 0%
KOAJ                   9/26/94
----------------------------------------------------------------------------
Mobil Nov 80 C         $1 3/8             $1 7/8           +21.89%
MOBKP                  9/26/94
----------------------------------------------------------------------------

/---------------------------------\
 RECENTLY CLOSED SIGNALS - EQUITY
\---------------------------------/

        Equity signals closed during the past month were as follows:

============================================================================
Security           Entry Price     Closing            %Change
Name &  Ticker     and Date        Price/Date
============================================================================

Cabletron Sys      L $35           $47                 +34.28%
CS                 6/17/94         10/4/94
----------------------------------------------------------------------------
Motorola           $52 3/4         $49                 -6.16%
MOT                10/2/94         10/5/94
----------------------------------------------------------------------------
Int'l Paper        $74 5/8         $78                 +4.45%
IP                 8/28/94         10/4/94
----------------------------------------------------------------------------
Potash             $36 1/4         $40                 +10.34%
POT                9/12/94         10/4/94
----------------------------------------------------------------------------
Georgia Pacific    $75             $73                 -2.0%
GP                 9/27/94         10/6/94
----------------------------------------------------------------------------
Lam Research       $40 1/8         $39 3/4             -0.9%
LRCX               9/30/94         10/4/94
----------------------------------------------------------------------------
James River        $24 1/8         $22 7/8             -5.18%
JR                 9/28/94         10/5/94
----------------------------------------------------------------------------
Hecla Mining       $11 3/4         $13                 +10.6%
HL                 9/19/94         10/6/94
----------------------------------------------------------------------------
Cyprus Minerals    $32 1/2         $30 1/2             -6.15%
                   9/19/94         10/3/94
----------------------------------------------------------------------------
American Power     APCC       L $17 1/4       Closed   $21 1/4    +23.19%
Conversion                    8/14/94         9/23/94
----------------------------------------------------------------------------
Caesars World      CAW        L $45 7/8       Closed   $45 1/2    -3.0%
                              9/5/94          9/20/94
----------------------------------------------------------------------------
Deere & Co         DE         L $65 7/8       Closed   $72 1/2    +10%
                              8/18/94         9/21/94
----------------------------------------------------------------------------
Mirage Resorts     MIR        L $18 1/8       Closed   $21        +15.89%
                              7/30/94         9/23/94
----------------------------------------------------------------------------
Whirlpool          WHR        S $53 3/4       Closed   $50        +6.98%
                              9/12/94         9/23/94
----------------------------------------------------------------------------
Walmart            WMT        L $25 1/8       Closed   $23 5/8    -5.97%
                              9/12/94         9/21/94
----------------------------------------------------------------------------
Dell Computer      DELL       S $32 1/2       Closed   $34 1/2    -6.15%
                              8/29/94         9/15/94
----------------------------------------------------------------------------
Silicon Grph       SGI        L $21 1/2       Closed   $25 1/8    +17.0%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Ivax Corp.         IVX        L $17 5/8       Closed   $20 1/4    +15%
                              8/7/94          9/6/94
----------------------------------------------------------------------------
Lotus Devp         LOTS       L $32 1/2       Closed   $42 1/8    +30%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Chiron             CHIR       L $53 3/4       Closed   $69 3/4    +29.77%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Welfleet           WFLT       L $20 1/8       Closed   $22 3/4    +13.07%
Communications                8/16/94         9/6/94
----------------------------------------------------------------------------
Becton Dickenson   BDX        L $42 1/8       Closed   $43 3/4    +3.87%
                              7/30/94         9/1/94
----------------------------------------------------------------------------

/------------------------------\
 RECENTLY CLOSED OPTION SIGNALS
\------------------------------/

        These are our records of signals that were featured in the past. All
options were rated 'Attractive' before the model verified a trade.

*========================================================================*
 Option        Ticker    Signal Price    Curr/Sell Price      %Change
 Series                  Date                Status
*========================================================================*

 Motorola Nov 55 C       $1 1/2           $1                   -33.33%
 MOTKK                   10/2/94          10/4/94
--------------------------------------------------------------------------
 Johnson & J Oct 50 C    $2 1/4           $1 1/2               -33.33%
 NJJJ                    10/2/94          10/4/94
--------------------------------------------------------------------------
 Scimed Life
 Oct 40 Puts    SMQVH    $1 3/4           $7/8                 -22.22%
--------------------------------------------------------------------------
 American Xprs  AXPAG    $1 1/8           $15/16               -28%
 Jan 35 Calls            9/19/94          9/23/94
--------------------------------------------------------------------------
 Hecla Mng      HLLV     $1               $1 9/16              +56.25%
 Dec 12 1/2 Calls        9/19/94          9/23/94
--------------------------------------------------------------------------
 Oracle         ORQJI    $2 1/8           $2 1/8               -/+%
 Oct 45 Calls            9/21/94          9/21/94
--------------------------------------------------------------------------
 McKesson       MCKJA    $1 1/2           $1 1/4               -16.67%
 Oct 105 Calls           9/5/94           9/19/94
--------------------------------------------------------------------------
 S&P 500        SPXUM    $1 3/8           $1 7/8               +36.5%
 Sept 465 Puts           9/5/94           9/12/94
--------------------------------------------------------------------------
 S&P 100        OEXUF    $1 5/8           $1                   -38.65%
 Sept 430 Puts           9/5/94           9/13/94
--------------------------------------------------------------------------
 S&P 500        SPXVM    $4 1/2           $5 7/8               +30.44%
 Oct 465 Puts            9/5/94           9/13/94
--------------------------------------------------------------------------
 Major Mkt      XMIUT    $3 1/2           $2                   -42.86%
 Sept 400 Puts           9/5/94           9/13/94
-------------------------------------------------------------------------
 Dell Cmptr     DLQVF    $1 15/16         $1 1/8               -41.94%
 Oct 30 P                9/5/94           9/13/94
--------------------------------------------------------------------------
 Biogen         BGQVI    $2 5/8           $1 1/2               -14.45%
 Oct 45 P                9/5/94           9/14/94
--------------------------------------------------------------------------
 US Surgical    USSJE    $1 5/8           $3                   +85.05%
 Oct 25 Calls            8/19/94          9/13/94
-------------------------------------------------------------------------
 Prec Met Indx  XAUID    $3 5/8           $4 5/8               +27.21%
 Sept 120 C              9/5/94           9/7/94
--------------------------------------------------------------------------
 Lotus Corp     LOQIG    $1 5/8           $8                   +390.80%
 Sept 35 Calls           7/29/94          9/9/94
-------------------------------------------------------------------------
 Merrill Lynch  MERIH    $3/4             $5/8                 -10%
 Sept 40 Calls           8/28/94          9/6/94
-------------------------------------------------------------------------
 Apple Cmptr    AAQIG    $1 1/2           $1                   -33.3%
 Sept 35 Calls           8/28/94          9/6/94
-------------------------------------------------------------------------
 Telmex         TMXVL    $1 3/4           $1 1/8               -36%
 Oct 60 P                9/5/94           9/6/94
--------------------------------------------------------------------------
 Motorola       MOTUJ    $1/2             $1/4                 -50%
 Sept 50 P               9/5/94           9/6/94
--------------------------------------------------------------------------
 American Pwr   PWQID    $3/4             $5/8                 -16.67%
 Sept 20C                8/19/94          9/6/94
-------------------------------------------------------------------------
 Deere & Co     DEIM     $3 1/4           $7 3/4               +138.46%
 Sept 65C                8/19/94          9/1/94
-------------------------------------------------------------------------

*************************** D I S C L A I M E R ****************************

This  profile is not an  investment  advisory service,  and is meant  to be
used for informational/educational  purposes only. Research and information
has  been  obtained from sources  believed to  be reliable. No guarantee is
made  to  the  accuracy,  adequacy, or  completeness  of  the   information
presented above. The information above is not, and is  not to  be construed
as an offering, or solicitation for the  purchase or sale of  any security,
commodity, or derivative. Parties connected with, contributing  as editors,
or  writing as guests  for NeuroQuant  Profiles may from time to  time buy
or  sell securities  profiled in this publication either for themselves or
for firms they are affiliated with, and their clients. NeuroQuant Profiles,
its editors, or parties writing for, or contributing to NeuroQuant Profiles'
research may not be held liable for any losses that may arise from trading.
Option  positions  are inherently  risky and  may  not be  suitable for all
investors. Investors  should  obtain annual  reports, mutual fund prospecti
and  other documentation  prior to investing and should seek a professional
and  qualified  opinion of a  Registered  Investment  Adviser,  Registered
      Representative, or Certified Financial Planner before investing.
***************************************************************************
       Ph: (716)424-8170                   Fax: (716)272-0963/424-7714
***************************************************************************
