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Subject: NeuroQuant Profiles (11/12/94)
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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 12th, '94                Last Update: Nov 5th, '94   /\
\/                           Volume 1, Issue 16                          \/ 
 \-----------------------------------------------------------------------/
       | RESEARCH: The NEUROQUANT natural & artificial brain models.... /
        \--------------------------------------------------------------/
                 | For Information: Call Al Vinjamur at (716)272-0963 /
                  \--------------------------------------------------/

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

	* Closed Last Week:

		ERTS		-12.35%
		AKLM		-12.33%
		POT		-9.28%
		MAPS		-6.38%
		AMGN		-2.10%

		CSCO		+19.36%
		MU		+15.17%
		PHSYA		+14.66%
		AMD		+12.45%
		TMX		+11.33%
		CY		+11.11%
		MSFT		+10.66%
		BNYN		+8.66%
		ELY		+6.53%
		AXP		+5.98%
		SLR		+4%
		C		+1.65%

	* Salient Equity Signals:

		CLP.V		+46.6%
		GM		+20.67%
		SSPIF		+13.4%
		GPS		+12.88%
		SCH		+9.42%
		WSGC		+9.16%
		TRB		+8.25%
		TRW		+6.79%
		LRCX		+6.79%

	* Technically, very bearish on the markets. SPX projection of
	  450, DOW 3740. Watch out for Economic numbers and potential
	  Fed action! Like Metals on the upside;

	* Favored signals inside...
		
/---------\
 QUOTABLES
\---------/

	Technology periodically steals a leaf from nature's book.

			Steve Harp & Tariq Samad
			Genetic Synthesis of Natural Network Architectures
			Handbook of GA's (L. Davies, ed.), 1991

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

	We don't really have any compelling evidence (academic or otherwise)
as to the applicability of Darwinism at the polls but they moved on to select 
the Republican next door to go to the house. Lest we sound like a bunch of 
Sefologists: Democracy lives! The voice was loud and clear, and the deed was 
done. The markets, as we expected did not really show any continued reaction 
to the results, but instead provided a plethora of short term money making 
opportunits. Market reaction and specifics of elected names aside (press 
obsessed whips included), what is important now is to see what unfolds from 
the Republican camp with respect to vital issues like GATT. While Mr. Perot 
may be reeling (after being unfairly interrupted and Gored!) and probably is 
still hearing sucking sounds (iced with visions of good old fashioned American 
jobs being taken away by Mexicans) we hope there isn't a person who's a 
Republican (or a Democrat, or Ex for that matter) who feels likewise or a 
shade lighter with respect to the currently pertinent GATT. We'll resist from 
making an argument as to why GATT would be good or bad for this country and 
will leave you with succinct cerebral issues: Trade Deficit and Greenback.

	In terms of the likely market response to GATT: a good amount of
market and name research will do wonders, as it did for the buyers of TelMex
during the post colorful Perot days when it roared from the $50s to the
$70s. TelMex, which has been in the news of late closed Friday at $53. The
downside action on TelMex, we think, is now a little overdone (sure, we did
have it as a short but playing long or short alone is playing only one side
of the market!) considering that the company has the southern government as
a backbone of sorts, well, at least until 1997. And that forecast, as any
other, needs you own personal research. 

	And another name that has been in the news: Chiron! We were witness
to an explosive rally on Friday, fueled by rumors that they might be acquired 
at $100/share. The frenzied trading resulted in option quotes being out of 
sync at all times -- imagine trying to use the Black Scholes. Hats off to 
those who were able to buy straddles under those conditions (we sure tried!). 
The stock opened at $59 3/4 and was at $78 by 11:14am before option trading 
was halted. At 11:24am trading on the stock was halted to confirm rumors. At 
1pm, the stock re-opened at $67 after Chiron confirmed that it was in talks 
to sell a substantial minority stake (whatever that really means!). Apparently,
Ciba-Geigy, the Swiss drug giant seems to be interested. Chiron closed at 
$71 1/2, up $11 3/4 on the day. Most certainly an unusual series of price 
moves, but one that makes a trader's day.
	      
/------------\
 MARKET SCOPE
\------------/

	"All things work together: I have seen them reverting, and have seen
how they flourish to return again, each to his roots...", so wrote Lao Tzu,
the posessor of trader mentality and perspective extraordainaire. And even
though we continue to thrive in these gravitationally challenged days, we're
not implying that we'll see indices move down to their base values. But
that truism is definitely one that widens perspective: In these times of
uncertainty it is all the more important since the nature of perspective
itself has to change with the changes in the market. 
	
	From political events we move to ones that might affect the financial
markets for a long time to come. Perspective in these times has to be some
kind of unfathomable causal-effect decision tree, a small part of which 
we outline below...in our own limited persepective, that is. 

	With the numbers on the yield curve conducive to produce pronounced
effects on the economy and with inflation on the rise, the Fed should raise
rates but the time and magnitude of the increase can have complex reflexive
reverberations on the markets. With important economic numbers due next week 
after the FOMC meeting on Tuesday (Capacity Utilization on Tuesday, CPI and 
Real Earnings on Wednesday and the Philadelphia Fed Survey on Thursday) it 
is very likely that the FED will wait beyond Tuesday before acting.

	If the Fed does not raise rates on Tuesday the markets will likely 
see that as continuing uncertainty and should remain weak for the short term,
while it focuses on the dollar and other economic numbers. Market action 
and psychology will likely turn to pronounced bearishness.

	If the Fed raises rates by the much talked about, and now conservative
50 basis points it might not really comfort the nerves of the Forex market
which will likely factor the action as apathetic and beat up on the already
dead US dollar which should in turn affect the inflation-phobic and dollar
fixated fixed income markets to cause a pronounced sell-off.

	If the Fed raises rates by 75 basis points or more, we might see a 
good intermediate (albeit artificial!) term floor put on the decline of the 
US dollar which should bring stability to the fixed income markets, which
should likely roll over to the equity markets. The low end of the yield should
respond in a more vociferous manner. We'll likely not see the 7.5%-7.8% yields
on the long side. In this scenario, we'll likely see the dollar and the fixed 
income markets rally and form an intermediate price stabilization area, which 
should translate to stability for the equity markets. We'll likely see a 
sideways to a downward movement from that point on. 

	Trapped on all three counts! It is very hard to imagine what the
consequences would be with a good degree of probability to back a viewpoint 
since there are so many factors and dynamics at play than the ones we've 
outlined above. In short, confusion and money making opportunities abound!

	On technical levels: The SP-500 did not really show any considerable
movement on a weekly basis, however, money making opportunities abounded
during the week. The index (SPX, 462.35) closed the week +.07 and is currently 
precariously poised at the upper end of a critical support band between 458 
and 462. Apart from closing at a critical level, the other factor that raises 
a red flag is the fact that there has been a serious deterioration of market 
breadth. Critical technical action to watch out for: break of 459 on the 
downside with further deterioration of breadth and accompanying action in 
other indices. If there is any movement on the upside, we'd be inclined to
fade the market at or slightly above 464 on a failure to cross 465.5. Our two 
week projection on the SPX on the downside currently is at 450.
	
	The Lehman Brothers T-Bond Index (LBTX, 1175.46) seems to have failed
at around the 1177 level after making a feeble attempt at a rally. The DOW 
Jones Utilities (DJU, 176.71) also look weak. A break of 175 on the index 
should further the deterioration. Fed action and economic numbers should fuel 
movements.

	The Dow Jones Industrials (DJIA, 3801.47) penetrated the psycho-
logically important 3800 level but managed to hold above it on a closing 
basis. Our critical level for deterioration in this index would be the
3770 level, whose break should provide enough momentum for the index to 
close at or above critical support at 3750. Action after a break of 3750
is anybody's guess...

	The Precious Metals Index (XAU, 115.4) has shown a mixed bag of
action. While support at different levels have been broken the index has
showed remarkable signs of a giant in the waking up process. On Friday
support between 112-114 was verified. We would be inclined to buy into this
index if the 118 level is broken on the upside.

	Action in the US dollar, FED moves, economic numbers and bond market
reaction will be the ones that will provide fuel to market movement - we'd be
inclined to hedge all position, both long and short with a leaning towards
the market moving down. 	
  
/-------------------------------\
 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)

	The change in allocation remains. Our models favor a modest increase 
in cash (+5% from previous week) at the expense of the high-yield category 
(-5%). We continue to favor holding a diversified portfolio as opposed to making
large asset allocation bets.

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

	Our options signals have not worked well this past week. While we
played safe by doing straddles on companies that were going to release 
earnings the options have not really moved. This accompanied with time decay 
of premium (both were near months) has hurt us. With still a glimmer of hope 
of a good move on either side, we've decided to keep the signals open until 
expiration - when we might decide to roll them over.     

     	On our equity portfolio, it is heartening to note that Colossal
Resources (CLP.V, $2.20cdn) has finally woken up after a long siesta. There
has been a lot of volume in the stock with the release of news that the 
company will be taking a stake in a natural resource mine in Zambia. For 
more information on Colossal, call (800)298-0244. We're also happy to 
note that there has been a lot of activity in Spectrum Signal Processing 
(SSPIF, $5 5/8) which made it to the top percentage (+28.1%) mover on the
NASDAQ. We're looking at the $6 3/4 - $7 1/8 level on Spectrum.

	On the short side, we feature Altera (ALTR, $38 1/2), Hewlett Packard 
(HWP, $97 5/8) and Home Depot (HD, $46 1/2) (earnings being released on HWP 
and HD). On the long side, we feature National Gypsum (NGCO, $33 3/4), Brinker 
International (EAT, $21 1/2) and Phelps Dodge (PD, $56 7/8).

/------------\
 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             : ALTR, HWP, HD, NGCO, EAT, PD
        Moved to Portfolio     : ABX, SYBS, LRCX, TWN 
        Deletions              : BEL, MERCS

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

 SHORT     Altera           $38 1/2           Crossing below $38 1/8
           ALTR             11/13/94          Buy Stop $39 1/2
-----------------------------------------------------------------------------
 SHORT     Home Depot       $46 1/2           Crossing below $46
           HD               11/13/94          Buy Stop $47 3/8
-----------------------------------------------------------------------------
 SHORT     Hewlett Packard  $97 5/8           Earlier down momentum not hit!
           HWP              11/5/94           Earning due! Crossing $97 3/8. 
                                              Tight Buy Stop $99
-----------------------------------------------------------------------------
 LONG      National Gypsum  $33 3/4           Crossing above $34 1/8
           NGCO             11/13/94          Sell Stop $32 7/8
-----------------------------------------------------------------------------
 LONG      Brinker Intl     $21 1/2           Crossing above $21 15/16
           EAT              11/13/94          Sell Stop $20 15/16
-----------------------------------------------------------------------------
 LONG      Phelps Dodge     $56 7/8           Crossing above $57 1/8
           PD               11/13/94          Sell Stop $56 1/2
-----------------------------------------------------------------------------
 LONG      Hecla Mining     $10 3/4           Crossing above $10 3/4
           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       
  SHORT      Home Depot Dec 45C      $2 3/4          Credit of $2 1/2
  LONG   (LI and LJ)    Dec 50C      $1/4            45C Stops $3 1/4
                                     11/12/94        Attractive!
---------------------------------------------------------------------------
  LONG       SPX Nov 460 P           $2 1/2          SPX at 462.35
             SPXWL                   11/12/94        Attractive!
                                                     Watch out for Fed!!
---------------------------------------------------------------------------
  LONG       TelMex Jan 55 Calls     $2 5/16         Attractive!
             TMXAK
---------------------------------------------------------------------------


/-----------------------\
 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.
*============================================================================*

Spectrum Signal    L $5          $5 5/8       +13.4%    Good volume! 
Processing         '93 to 3/94                          Looking at $6 1/2
SSPIF
------------------------------------------------------------------------------
Colossal           L $1.50Cdn   $2.20 Cdn     +46.6%    Looking at $3.50 - $4
Resources          7/93 - 1/94                          Holding!
CLP.V
------------------------------------------------------------------------------
American Barrick   $23 1/2       $23 1/2      +0.55%      Looking at $26+
ABX                11/5/94                                Sell Stop $22
-----------------------------------------------------------------------------
Sybase             (S) $49       $48 3/8      +1.30%      Looking at $45
SYBS               11/7/94                                Buy Stop $50
-----------------------------------------------------------------------------
Taiwan Fund        $26 1/2       $27          +1.88%      Sell Stop $25
TWN                11/9/94
----------------------------------------------------------------------------
Lam Resrch         (S) $43 1/4   $40 1/2      +6.79%      Looking at $38
LRCX               11/7/94                                Buy Stop $41 3/8
----------------------------------------------------------------------------
Coca Cola Femsa    (S) $31 1/2   $32          -1.5%       Buy Stop $32
KOF                10/31/94                             
---------------------------------------------------------------------------- 
GAP Stores         $33 3/8       $37 5/8      +12.88%   Sell Stop $37 1/4
GPS                11/1/94        
----------------------------------------------------------------------------
Pan Amer Bevrg     (S) $34 3/8   $35          -1.8%     Resilient!
PB                 10/31/94                             Buy Stop $33 1/2
----------------------------------------------------------------------------
Charles Schwab     (S) $35 3/4   $32 5/8      +9.42%    Buy Stop $33 1/2
SCH                11/2/94 
------------------------------------------------------------------------------
Aon Corp           (S) $32 3/8   $32          +1.11%    Buy Stop $33
AOC                10/24/94                             Projecting $29
-----------------------------------------------------------------------------
Williams Sonoma   (S) $32 3/4    $30          +9.16%    Buy Stop $30 7/8
WSGC              10/17/94      
------------------------------------------------------------------------------
General Motors    (S) $46 7/8    $38 7/8      +20.67%   Buy Stop $39 1/2
GM                10/17/94      
------------------------------------------------------------------------------
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
------------------------------------------------------------------------------
Mark IV Indus      $21 1/2       $21          -2.61%    Sell Stop $20 1/2    
IV                 9/12/94
------------------------------------------------------------------------------
India Inv Fund     L $15        $14           -5.86%    Models will buy on
Fund (Morgan St)   2/94                                 weakness
------------------------------------------------------------------------------

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

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

Nordstrom Nov 45P (WI)   $3/8               $1/4             -32.43%  
          Nov 50C (KJ)   $1                 $3/16            -82%
----------------------------------------------------------------------------
Gap Stores Nov 35P (WG)  $3/8               $1/8             -65%
           Nov 40C (KH)  $1/4               $0.31            +24%
----------------------------------------------------------------------------
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
============================================================================

MapInfo            $23 1/2         $22                 -6.38%
MAPS               11/7/94         11/11/94
----------------------------------------------------------------------------
Amgen              S $55 1/2       $56 5/8             -2.10%
AMGN               10/31/94        11/9/94
----------------------------------------------------------------------------
Electronic Arts    $22 1/4         $19 1/2             -12.35%   
ERTS               10/31/94        11/10/94               
----------------------------------------------------------------------------
Potash             $35             $31 3/4             -9.28%
POT                11/01/94        11/8/94
----------------------------------------------------------------------------
Pacific Hlth       (S) $79 1/8     $69                 +14.66%  
PHSYA              10/3/94         11/8/94
------------------------------------------------------------------------------
Acclaim Ent        $18 1/4         $16                 -12.3%    
AKLM               10/10/94        11/11/94             
------------------------------------------------------------------------------
Cypress SemiCond   $20 1/4         $22 1/2             +11.11% 
CY                 11/1/94         11/9/94
----------------------------------------------------------------------------
Micron Tech        $36 1/4         $41 3/4             +15.17%
MU                 10/22/94        11/9/94               
-----------------------------------------------------------------------------
Lotus Devp         $37 15/16       $38                 +0.18%  
LOTS               10/28/94        11/11/94                    
-----------------------------------------------------------------------------
TelMex             (S) $61 1/8     $54                 +11.33% 
TMX                10/24/94        11/10/94                     
-----------------------------------------------------------------------------
Advanced Micro    $23 1/8          $26                 +12.45%
AMD               10/17/94         11/8/94         
------------------------------------------------------------------------------
Microsoft         $56 1/4          $62 1/4             +10.66%
MSFT              10/18/94         11/11/94                
------------------------------------------------------------------------------
Chrysler          $45 3/8          $46 1/8             +1.65% 
C                 10/10/94         11/10/94
------------------------------------------------------------------------------
Banyan            $16 1/2          $17 15/16           +8.66%
BNYN              10/5/94          11/11/94
------------------------------------------------------------------------------
Solectron         $25              $26                 +4%
SLR               10/5/94          11/11/94                     
-----------------------------------------------------------------------------
Cisco Systems     $27 3/8          $32 5/8             +19.36%
CSCO              10/2/94          11/11/94
------------------------------------------------------------------------------
American Xpress   $29 1/4          $31                 +5.98%
AXP               9/6/94           11/11/94
------------------------------------------------------------------------------
Callaway Golf      $35 5/8         $38                 +6.53%
ELY                10/10/94        11/11/94 
------------------------------------------------------------------------------
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
----------------------------------------------------------------------------
Amer Pwr Conv      $17 1/4         $21 1/4             +23.19%
APCC               8/14/94         9/23/94
----------------------------------------------------------------------------
Caesars World      $45 7/8         $45 1/2             -3.0%
CAW                9/5/94          9/20/94
----------------------------------------------------------------------------
Deere & Co         $65 7/8         $72 1/2             +10%
DE                 8/18/94         9/21/94
----------------------------------------------------------------------------
Mirage Resorts     $18 1/8         $21                 +15.89%
MIR                7/30/94         9/23/94
----------------------------------------------------------------------------
Whirlpool          S $53 3/4       $50                 +6.98%
WHR                9/12/94         9/23/94
----------------------------------------------------------------------------
Walmart            $25 1/8         $23 5/8             -5.97%
WMT                9/12/94         9/21/94
----------------------------------------------------------------------------
Dell Computer      S $32 1/2       $34 1/2             -6.15%
DELL               8/29/94         9/15/94
----------------------------------------------------------------------------
Silicon Grph       $21 1/2         $25 1/8             +17.0%
SGI                7/30/94         9/6/94
----------------------------------------------------------------------------
Ivax Corp.         $17 5/8         $20 1/4             +15%
IVX                8/7/94          9/6/94
----------------------------------------------------------------------------
Lotus Devp         $32 1/2         $42 1/8             +30%
LOTS               7/30/94         9/6/94
----------------------------------------------------------------------------
Chiron             $53 3/4         $69 3/4             +29.77%
CHIR               7/30/94         9/6/94
----------------------------------------------------------------------------
Welfleet           $20 1/8         $22 3/4             +13.07%
WFLT               8/16/94         9/6/94
----------------------------------------------------------------------------
Becton Dickenson   $42 1/8         $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 ****************************

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 prospectuses
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.
***************************************************************************
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***************************************************************************
