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From: bkv2673@vaxa.isc.rit.edu
Subject: NeuroQuant Profiles (11/5/94)
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  /---------------------------------------------------------------------\
\/                                                       (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  /\
\/-  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - \/
/\ This Update: Nov 5th, '94                 Last Update: Oct 29th, '94  /\
\/                           Volume 1, Issue 15                          \/ 
 \-----------------------------------------------------------------------/
       | RESEARCH: The NEUROQUANT natural & artificial brain models.... /
        \--------------------------------------------------------------/
                 | For Information: Call Al Vinjamur at (716)424-8170 /
                  \--------------------------------------------------/

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

	* Models favor closing out many profitable signals. Please see
	  inside for complete details;

	* Change in allocation in the NeuroQuant Global Asset Manager!

	* Closed positions (Equity):

		AMAT	+9.17%
		CBRL	+8.88%
		TNCR	+30.98%
		CHIR	+8.71%
		FDX	-0.68%
		
	* Closed positions (Options):
	
		IBM	-26.86%
		MOT	-15.22%
		JNJ	-25%
		KO	+17%
		INTC	+25.20%
		LOTS	+45.90%

	* New signals:
		
		ABX, SYBS, TWN, HWP, MAPS, TOY, BEL, LRCX, HL
                GPS and NOBE options
	
	* Bearish on the dollar. Bullish on the Deutsche Mark and the
	  Swiss Franc;

	* Models favor exposure to precious metals. Looking at 124+
	  on the XAU if 119 is broken on the upside;

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

	Any sufficiently advanced technology is 
	indistinguishable from magic.
 	
			- Arthur C. Clarke

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

	Remember! Tuesday is D-day...the 'D' may eventually metamorphize into
'Doom' but right now dear citizens, we mean 'D' as in democracy! It is our 
considered opinion that on this one day citizens set aside the oodles of 
cynicism they normally have for politicians and exercise their sacred right. 
Sure, it's hard to choose (fortunately lest we fall into dictatorship) but 
choose you must, even if you feel you've been cheated and don't have an 
iota of a rational choice; and we most definitely sympathize but don't know
how to express it.

	 As for the markets, we feel it won't give a darn and will likely 
shrug the polls as a non-event, unless of course the Federal Reserve chooses 
to bring forth the much needed icing and decide to finally do the deed on 
this auspicious day - that event, if it does occur should have the world's 
markets light the candles. It could by virtue of timing and political 
(im?)propriety be one that'll elicit new terminology like the ashed blue moon 
of Krakatoa did. Definitely a day to be saved for posterity. 

	As a follow-through you could sit your mint mortar-board 'n tassle
business school grandchild on the lap and tell him or her about the toys Alan 
got to play with at the gala event. After all, some of them do need to broaden 
their horizons and forget antediluvian weapon systems like Linear Regression 
and know what it'll really take to come out unscathed (a very noble ambition 
these heady days!) from the wild.

	And amidst all the sad crime coverage last week, one nifty invention 
that caught our attention by way of the Patent Office deciding to bless it: an
ATM (Automated Teller Machines to you new-age networking stock buffs!) as part 
of which the customer gets two delectable PIN flavors, regular and emergency.
These guys have it all figured out: you reserve the emergency PIN for those 
special occasions when you're jelly-kneed under gunpoint...the transaction is 
processed normally and you receive derivative-free cash, but it also sets off 
a silent alarm! As for what the regular PIN does, we'll leave that for your
outlandish imagination to figure. This invention is one of those ideas that
evokes the ultimate compliment: "Why didn't we think of this?" Oh, we
forgot to tell you that the original ATm machine patent is often cited in 
intellectual property circles as a classic example of a financial patent! 
Diebold (ticker DBD), we hope you are wooing this inventor! 
	      
/------------\
 MARKET SCOPE
\------------/

	Last week, we outlined our scenario for the intermediate term (which
was bullish) and also for the longer term (bearish). Shorter term, we were
wrong - the market slapped us across the face by responding vociferously to 
econonmic numbers that were released. It is of pertinent interest to let you 
know that the investment windows of our models have been contracting for the 
last year. What took a month to happen now happens in about five days. Very 
often there have been weeks where we've been right all along until mid-week 
and then wrong come Friday. It is getting increasingly hard to make price 
projections a week ahead...try our best, we will.

	In the last issue (Oct 29th, Vol 1, #15) we had a quote from Fractal
Market Analysis, a wonderful book by Mr. Edgar Peters, which shed a little
insight into the minds and objectives of central bank  foreign exchange
dealings. An opportune time to feature that quote - this past week Mr. Alan
Greenspan (Freddie Kreuger according to a portfolio manager down in Florida)
and his cohorts intervened many a time to support the ever falling greenback.
Support, they surely did not...and you thought these guys could pull it off.
Fact of the matter is that the foreign exchange market is a Trillion dollar
(with a big obese T) market and fundamental/market forces have far more 
control than a few allied central banks.

	The dollar argument aside (just for a moment!) the economy is 
definitely at a clip as numbers released last week indicated. With the yields 
on 30 year Ts at a three year high the message should be clear: we're behind 
and inflation is ahead. The Fed should likely raise rates come the ides of 
November. Now, we're not brave enough to say that they'll raise short term 
rates by a whopping 100 basis points but it is our belief that we'll see a 
50 basis point hike. On that note, we should likely see the US dollar regain 
some lost ground and the coupling element between bonds and the former 
should weaken (for a short while, that is!) and we should be witness to a 
short term rally in bonds. And we're not coming up with this scenario by
some esoteric quantitative modeling: mental imaging of yield curve dynamics
at the two ends tell us this will be very likey. 

	For the shorter term (watch Sydney and Tokyo) we would expect the 
dollar to remain flat to bearish. We would be inclined to believe the dollar
will remain below the 98 Yen level. We would favor the Swiss Franc and the 
Deutsche Mark on the long side. With japanese psychology fixated on the 
US markets it would be very prudent to watch out and monitor pscychological
feelers on the PPI (due 11/10th) and the Fed rate hike fears as the week 
progresses. 

	Bonds are once again key. Yields are at a three year high and the
T-bond futures pits at the MERC must still be reeling with Friday's heat.
For the near term, we expect yields to move to around the 8.21% level.
The Lehman Brothers T-Bond index (LBTX, 1174.760) which showed some short
term signs of resiliency has now broken through critical support on the
downside. The last time it was at these levels was back in 1991, a period
which saw the bond market rally to unheard of heights. For now, we do think
there will be follow through on the downside into uncharted territory. Even
though technical indicators flash oversold, we'd be very cautionary - remember
it is the market which decides when something is oversold!

	The SP-500 (SPX, 462.28) which showed great momentum at the end of 
the previous Friday seemed to stop dead in its tracks. We had a positive
reversal of trend signal on 10/31/94 when the SPX closed at the low of the 
bar. For now, at a purely technical level, we would expect the SPX to 
continue down breaking its support at the 459-462 region. We'll likely see 
some strong support area going into PPI release day (Thursday) with the SPX
poised at around the 458 level. A bad to "ok" PPI numbers should provide the 
SPX enough momentum to move down below the 450 level. On the upside, we'd 
like the technical picture on a shorter term basis if the SPX moved up above
465 with good breadth on other accompanying indices.

	The S&P Midcap (MID, 174.22) also followed its bigger cousin. The
index closed at an area inbetween two support regions. We'd be inclined to
believe the 170-172 level will be broken. The only reason the index should
show some signs of resiliencu (if it does) would be because of earnings. 

	The Precious Metals Index (XAU, 115.18) which is near a band of 
critical band of support. The underlying stocks that make this index all seem 
to be at or around support areas....if there are positive numbers released 
(for this index, that is) we should see the XAU break its immediate overhead 
resistance at around the 118 level and head out towards the 126-128 level. 
We like precious metals, both fundamentally and technically.
	
	The Oil Index (XOI, 268.82) came down hard the last week. We would
expect strong suppor to hold at the 265-267 level. The index will likely
move sideways - at the current time, the numbers the market is giving us
don't cause us to have a confidence viewpoint. 
                                    
/-------------------------------\
 NEUROQUANT GLOBAL ASSET MANAGER
\-------------------------------/

        The NeuroQuant Global Asset Manager uses 10 asset classes and
is an example of a program 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.

        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         9% (e.g., Fidelity Capital Income)
        Real Estate              8% (e.g., Columbia Real Estate Fund)
        Cash                    19% (money market funds)

	There is a slight change in allocation this week. Our models favor a
modest increase in cash (+5% from previous week) at the expense of the 
high-yield category (-5%). This is in recognition of the rampant uncertainty 
in the marketplace - an environment where diversification seems to be the 
key..... 

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

	With increasing volatility in the markets signal time frames have
compressed. Last week, our models indicated Coca Cola Femsa (KOF) at 
$31 1/2 as a short. The KOF trade worked out just great during the week
and went down to the $28 1/8 level (profit of +12.01%) before rebounding 
back with Telmex (another short we featured two weeks ago) and other
Mexican issues. To stay on the conservative side in reporting signal 
performance, we have shown a loss on the signal on this week's issue. 

	We'd like to point out before featuring our news signals for this
week that all of them are really a function of the markets. If they are
played, they should be played with market action in mind and not blindly.
However, for fair reporting purposes we'll still continue to report signal
performance as long as our technical conditions are fulfilled any time 
during the course of the trading week.

	On the long side, we feature ABX, TWN, MAPS, MERCS and HL. On the 
short side, our models favor HWP, SYBS, BEL and LRCX. On options, we 
feature underlyings that are going to report earnings. With volatility
rampant and option pricing slightly out of whack, we should be able to d
well by using spreads: we feature GPS and NOBE. 
    
/------------\
 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 Alerts             : SYBS, HWP, BEL, LRCX, MAPS, TWN, ABX, MERCS
        Moved to Portfolio     : POT, AMGN, KOF, SCH, PB, GPS, CY, ERTS 
        Deletions              : GSCC, KMT, DUR, ADI

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

 SHORT     Sybase           $49 1/4           Crossing down $49. Market/Group
           SYBS             11/5/94           sensitive. Buy Stop $53
-----------------------------------------------------------------------------
 SHORT     Hewlett Packard  $94 1/2           Crossing down $94 1/8
           HWP              11/5/94           Buy Stop $96
-----------------------------------------------------------------------------
 SHORT     Bell Atlantic    $51 1/2           Crossing down $51 1/8
           BEL              11/5/94           Buy Stop $53
-----------------------------------------------------------------------------
 SHORT     Lam Research     $43 1/4           Crossing down $43
           LRCX             11/5/94           Buy Stop $45
-----------------------------------------------------------------------------
 LONG      Mapinfo Corp     $23 1/4           Crossing $23 1/2
           MAPS             11/5/94           Sell Stop $22
-----------------------------------------------------------------------------
 LONG      Taiwan Fund      $26 3/8           Crossing $26 1/2
           TWN              11/5/94           Sell Stop $24
-----------------------------------------------------------------------------
 LONG      American Barrick $23 3/8           Crossing $23 1/2
           ABX              11/5/94           Sell Stop $22
-----------------------------------------------------------------------------
 LONG      Mercer Intl      $15 5/8           Crossing $15 15/16
           MERCS            11/5/94           Sell Stop 414
-----------------------------------------------------------------------------
 LONG      Hecla Mining     $10 3/4           Crossing $11
           HL               11/5/94           Sell Stop $10
-----------------------------------------------------------------------------
        
/-------------\
 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      Nordstrom Nov 45P (WI)    $3/8             2:1 Ratio optimal
                      Nov 50C (KJ)    $1               Attractive!
----------------------------------------------------------------------------
  LONG      Gap Stores Nov 35P (WG)   $3/8             Attractive!
                       Nov 40C (KH)   $1/4 
----------------------------------------------------------------------------
  
  
/-----------------------\
 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.
*============================================================================*

GAP Stores         $33 3/8       $36 5/8      +9.88%    Sell Stop $36
GPS                11/1/94        
----------------------------------------------------------------------------
Cypress SemiCond   $20 1/4       $21 1/2      +6.17%    Take Profits!
CY                 11/1/94 
----------------------------------------------------------------------------
Electronic Arts    $22 1/4       $20          -10.11%   Long term hold!
ERTS               10/31/94                             Sell Stop $19 1/2
----------------------------------------------------------------------------
Potash             $35           $32 1/2      -7.14%    Sell Stop $31 3/4 
POT                11/01/94 
----------------------------------------------------------------------------
Amgen              (S) $55 1/2   $53.71       +3.33%    Buy Stop $55
AMGN               10/31/94
----------------------------------------------------------------------------
Coca Cola Femsa    (S) $31 1/2   $32 1/8      -1.96%    KOF collapsed midweek
KOF                10/31/94                             to $28 1/8 (+12.01%)
----------------------------------------------------------------------------
Pan Amer Bevrg     (S) $34 3/8   $35 5/8      -3.7%     Buy Stop $36 1/8
PB                 10/31/94     
----------------------------------------------------------------------------
Charles Schwab     (S) $35 3/4   $34 1/2      +3.62%    Buy Stop $38
SCH                11/2/94 
----------------------------------------------------------------------------
Micron Tech        $36 1/4       $38 7/8      +7.22%    Hit target of $42+
MU                 10/22/94                             Take Profits!
-----------------------------------------------------------------------------
Lotus Devp         $37 15/16     $38.59       +1.74%    Hit target $40 3/4 
LOTS               10/28/94                             Take Profits!
-----------------------------------------------------------------------------
TelMex             (S) $61 1/8   $56 3/8      +8.42%    Take Profits!  
TMX                10/24/94                             
-----------------------------------------------------------------------------
Advanced Micro    $23 1/8        $26          +13.49%   Take Profits!
AMD               10/17/94                  
------------------------------------------------------------------------------
Microsoft         $56 1/4        $61 1/2      +9.33%    Take Profits!
MSFT              10/18/94                         
------------------------------------------------------------------------------
Chrysler          $45 3/8        $47 7/8      +5.51%    Take Profits!
C                 10/10/94         
------------------------------------------------------------------------------
Banyan            $16 1/2        $17 3/8      +5.27%    Take Profits!
BNYN              10/5/94    
------------------------------------------------------------------------------
Solectron         $25            $26 3/8      +5.48%    Take Profits!
SLR               10/5/94                               
-----------------------------------------------------------------------------
Cisco Systems     $27 3/8        $31 1/2      +15.08%   Take Profits!
CSCO              10/2/94
------------------------------------------------------------------------------
American Xpress   $29 1/4        $30 1/2      +4.27%    Take Profits!
AXP               9/6/94
------------------------------------------------------------------------------
Callaway Golf      $35 5/8       $38 1/2      +7.93%    Take Profits!
ELY                10/10/94         
------------------------------------------------------------------------------
Aon Corp          (S) $32 3/8    $32 1/8      +0.77%    Buy Stop $33
AOC               10/24/94                              Projecting $29
-----------------------------------------------------------------------------
Williams Sonoma   (S) $32 3/4    $33.43       -2.03%    Buy Stop $35
WSGC              10/17/94      
------------------------------------------------------------------------------
General Motors    (S) $46 7/8    $39 1/4      +19.41%   Buy Stop $40
GM                10/17/94      
------------------------------------------------------------------------------
Pacific Hlth       (S) $79 1/8   $68 1/4      +15.92%   Buy Stop $69
PHSYA              10/3/94
------------------------------------------------------------------------------
Tribune Co.        (S) $55 3/4   $51 1/2      +8.25%    Buy Stop $52 1/4
TRB                9/27/94
------------------------------------------------------------------------------
TRW Inc.           (S) $72 3/4   $68 1/8      +6.79%    Buy Stop $70
TRW                9/20/94
------------------------------------------------------------------------------
Acclaim Ent        $18 1/4       $16 3/4      -8.21%    Sell Stop $16
AKLM               10/10/94                                                 
------------------------------------------------------------------------------
Mark IV Indus      $21 1/2      $21 1/8       -1.76%    Sell Stop $20 1/2    
IV                 9/12/94
------------------------------------------------------------------------------
Spectrum Signal    L $5         $4 1/2        -10%      Holding
Processing        '93 to 3/94
SSPIF
------------------------------------------------------------------------------
India Inv Fund     L $15        $14           -5.86%    Models will buy on
Fund (Morgan St)   2/94                                 weakness
------------------------------------------------------------------------------
Colossal           L $1.50Cdn   $2.0 Cdn      +33.33%   Hold!
Resources          7/93 - 1/94
CLP.V
------------------------------------------------------------------------------

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

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

Toys R Us Dec 40C      $3/4               $5/8             -10%
TOYLH                  10/23/94
----------------------------------------------------------------------------
Glaxo Jan 22 1/2 Calls $1/4               $3/16            -28%
GLXAX                  10/17/94
----------------------------------------------------------------------------
                                                          
/---------------------------------\
 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
============================================================================

Applied Materials  $47 5/8         $51 3/8             +7.76% 
AMAT               10/24/94        11/02/94            
-----------------------------------------------------------------------------
Cracker Barrel     (S) $24 1/2     $21 1/2             +13.93%   
CBRL               9/6/94          11/3/94
------------------------------------------------------------------------------
Tencor Instr.      $35 1/2         $45 3/4             +28.87%
TNCR               10/17/95        11/2/94 
------------------------------------------------------------------------------
Chiron             $60 1/4         $63 5/8             +5.67%    
CHIR               10/10/94        11/2/94         
------------------------------------------------------------------------------
Federal Express    $61 5/8         $61                 -1.08%
FDX                9/26/94         10/31/94                         
------------------------------------------------------------------------------
Telex-Chile        $20 5/8         $19                 -8.07% 
TL                 10/20/94        10/28/94                         
------------------------------------------------------------------------------
US Surgical        L $23 7/8       $24                 +0.54%
USS                8/14/94         10/26/94
------------------------------------------------------------------------------
American Barrick   $25 1/2         $24 1/2             -3.92%   
ABX                10/11/94        10/27/94
------------------------------------------------------------------------------
Starbucks          (S) $23         $25 1/4             -9.78%       
SBUX               9/30/94         10/21/94
----------------------------------------------------------------------------
Winn Dixie         (S) $50 3/8     $51 5/8             -2.48% 
WIN                9/26/94         10/17/94
----------------------------------------------------------------------------
Biogen             (S) $54 1/2     $44 1/2             +18.35%
BGEN               9/19/94         10/17/94                         
----------------------------------------------------------------------------
Williams Sonoma    $33             $32 3/4             -0.75%
WSGC               10/10/94        10/17/94 
----------------------------------------------------------------------------
Nike Inc           $58 1/2         $61 3/4             +5.55%
NKE                10/5/94         10/17/94
----------------------------------------------------------------------------
EMC Corp           $20             $21 1/8             +5.63%
EMC                9/28/94         10/17/94
----------------------------------------------------------------------------
Georgia Pacific    $75             $73                 -2.0%
GP                 9/27/94         10/6/94
----------------------------------------------------------------------------
Hecla Mining       $11 3/4         $13                 +10.6%
HL                 9/19/94         10/6/94
----------------------------------------------------------------------------
Motorola           $52 3/4         $49                 -6.16%
MOT                10/2/94         10/5/94
----------------------------------------------------------------------------
James River        $24 1/8         $22 7/8             -5.18%
JR                 9/28/94         10/5/94
----------------------------------------------------------------------------
Cabletron Sys      L $35           $47                 +34.28%
CS                 6/17/94         10/4/94
----------------------------------------------------------------------------
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
----------------------------------------------------------------------------
Lam Research       $40 1/8         $39 3/4             -0.9%
LRCX               9/30/94         10/4/94
----------------------------------------------------------------------------
Cyprus Minerals    $32 1/2         $30 1/2             -6.15%
CYM                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
*========================================================================*

IBM Jan 80 C           $2 1/8             $1 5/8           -26.86%
IBMAP                  10/29/94           10/13/94
----------------------------------------------------------------------------
Motorola Nov 60 C      $15/16             $1 5/8           -15.22%
MOTKL                  10/29/94           11/3/94
----------------------------------------------------------------------------
Lotus Nov 40 C         $1 3/8             $2               +45.9%
LOQKH                  10/29/94
----------------------------------------------------------------------------
John & Jhnsn Nov 55C   $1                 $3/4             -25%
JNJKK                  10/23/94              
----------------------------------------------------------------------------
Compaq Nov 35P (WG)    $9/16              $3/8             -33.9%
       Nov 40C (KH)    $3/4               $2 1/8           +182.66%
                                                           Net: +148.76%
----------------------------------------------------------------------------
Intel Nov 60 Calls     $1 7/8             $3               +60.42%
INQKL                  10/17/94
----------------------------------------------------------------------------
Coca Cola Jan 50 C     $1 3/4             $3               +35.42%
KOAJ                   9/26/94
----------------------------------------------------------------------------
 Gnrl Mtrs Nov 45 Puts   $3/4             $4                   +433%
 GMWI                    10/17/94         10/21/94
----------------------------------------------------------------------------
 Fruit of Loom Oct 25 P  $3/4             $1/16                -92%
 FTLVE                   10/10/94         Expired
----------------------------------------------------------------------------
 Banyan Oct 17 1/2 C     $5/8             $1 1/8               +79.2%
 BNQJW                   10/4/94          10/19/94
----------------------------------------------------------------------------
 Cisco Jan 30 C          $2               $1 5/8               -18.75%
 CYQAF                   10/3/94          10/17/94
----------------------------------------------------------------------------
 Mobil Nov 80 C          $1 3/8           $1 7/8               +36.36%
 MOBKP                   9/26/94          10/21/94
----------------------------------------------------------------------------
 International Paper     1:1 Straddle                          +45.45%
  Oct 75 Calls IPJO      $2 1/4 10/10/94  $3 5/8 10/14/94    
  Oct 75 Puts  IPVO      $1/2   10/10/94  $3/8   10/12/94    
----------------------------------------------------------------------------
 Chrysler Oct 45 C       $1 1/4           $2 1/2               +80.0%
 CJI                     10/10/94         10/13/94
----------------------------------------------------------------------------
 American Barr Oct 25 C  $5/8             $1 1/8               +67.16%
 ABXJE                   10/10/94         10/13/94
----------------------------------------------------------------------------
 Scimed Life             1:1 Straddle                          +41.18%
  Oct 40 Calls SMQJH     $2 1/2 9/26/94   $5 1/8 10/13/94
  Oct 40 Puts  SMQVH     $1 3/4 9/26/94   $7/8   9/94     
----------------------------------------------------------------------------
 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%
 JNJJJ                   10/2/94          10/4/94
--------------------------------------------------------------------------
 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 ****************************

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