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From: bkv2673@vaxb.isc.rit.edu
Subject: NeuroQuant Profiles (12/10/94)
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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: Dec 10th, '94               Last Update: Dec 3rd, '94    /\
\/                           Volume 1, Issue 20                          \/ 
 \-----------------------------------------------------------------------/
       | RESEARCH: The NEUROQUANT natural & artificial brain models.... /
        \--------------------------------------------------------------/
                 | For Information: Call Al Vinjamur at (716)272-0963 /
                  \--------------------------------------------------/

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

	* Closed:

		TMX		-13.41%
		ORCL		+12.5%
		DE		+50%
   		SPX Dec 450P    +204.48%
		BROD		+171.79%
		SPX Dec 455C	+106.71%

	* Open Positions
		
		SSPIF 	-6.42%
		AKLM  	-5.75%
                KSU   	-3.96%
		HL    	-3.57%	 	
		IIF   	-1.86%
	 	ABF  	-1.83%
		WDC  	-1.38%
		                
		CLP.V 	+90%
		PLAY 	+21.2%
		NGCO 	+19.85%
		PRGS 	+9.55%
		HD   	+4.49%
		CAKE 	+4%
		OKEN 	+3.75%
		TWN   	+3.77%	
		DOLR 	+1.54%
		           
	* Like last week, we're short term bullsh and would expect a 
	  reversal of trend mid week with an outside chance of range
	  bound action. Put/Call ratios to be monitored. Underlying
	  technical market structure is undergoing a lot of fluxing
	  changes. Watch out for economic numbers, RESPECT RISK and
	  remain hedged! 	 

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

	Therefore if the smaller force is stubborn, 
	it becomes the captive of the larger force.

				Sun Tzu 
				The Art of War

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

	If you're "Fickle" and people complain you can nonchalantly pass it 
off as a good quality by being an optimist and terming it "Adaptability"; if 
you're "Fixated" you can shrug it off by claiming you belong to a certain 
"School of Thought" that has had a long tradition of success and bears amongst 
the people that walked its (narrow or wide ain't the question) annals many 
famous and legendary names. And that attitude seems to be a good categorization
of the mindsets of most people in the world, especially so for folks in the
investment arena - these kind are the ones who go by categories of investment 
styles (collective noun for Apes is shrewdness...lack thereof!) and 
nomenclatures of the like of "Growth Investor", "Value Investor" or to take the
comical hierarchy one step further "Aggressive Growth"...and there's the 
"Noveau Spirit of the 90's" school - the ones that'll fall in love with you if 
you can rant terms the "hoi-polloi" (translation: the normal folks) don't know 
about and cannot find in any lexicon: "Heteroscedastic", "Lyapunov", "Pairs 
Factor", "RBF" (Radial Basis Functions), "Bootstrapping"....Enough! Boot all 
of 'em 'coz the traps are plenty!  

	And these are the 1990s, folks! A period when narcissism, bravado, and 
narrow-mindedness is exemplified when you're proudly able to pin down the 
investing school you're from. And what lessons can these folks learn (if ever!)
from the perilous markets of the last year? And what did happen? Well, the
"Growth" types lost a limb, two or more, the "Short term" folks had a huge 
portfolio turnover but made money after a lot of "at the edge" nervousness or 
"near death" experiences, while we don't know where the "Value" folks really
are - we can take a good guess though: after getting their heads handed to them
they're probably still staring at their decimated "Paper Losses", a strange 
euphemism for "I have lost real money but its only on paper". Hmmm...."Paper 
Losses" - What do they "REALly" mean?

	C'mon, don't misunderstand us! We're not casting aspersions on any 
style or anyone. We do have more than a garden variety carrot's IQ and do 
realize that investing styles are highly personal but what we're trying to
point out is that the "ZEN", "TAO", "BRAHMAN" or "Unified Theory" free-form 
mindset has been forgotten. Gone are the days when people remembered that 
money could be made in all kinds of markets. And people have most certainly 
forgotten the lesson they apparantly learnt in Market-101: Don't fight the tape!

	So, don't worry about where the market will go and don't join the crowd
that is pacing about looking for the holy grail - it lies within. America is 
a free country ("Why do we pay taxes, then?", retorts a friend in NYC) and you 
can change your mind about turning bullish or bearish the next minute (even if
that brain-dead indicator is saying something else!)...but make sure you change
quick enough to stay on the right side of the market...it is a very powerful 
force. Bow down and respect Risk - obliterating your ego is the single most
profitable thing you'll ever do in your entire life...perhaps, it is the holy 
grail...the "TAO", "ZEN" or "BRAHMAN" component of the game that'll liberate 
you....

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

	Once again, we've seen that the secret to making money in these
markets is dependent on your ability to question your stance and change 
positions egolessly time and again in a short trading time window. Changing
variable processing, timewindows and sensitivity factors on our neural
nets and other feedback based mechanical models definitely has helped us
keep up with the markets. In last week's profile, we expected a clearer
trend to emerge mid-week which played out as expected. Going forward, this
is our outlook:

	With a host of economic numbers expected this coming week, coupled
with the pre-disposed knee-jerk volatility compression/expansion mode of the
markets, it would be very hard to pin down a certain kind of intermediate
term trend with a good level of confidence. Remember, a true trend is not
really volatile in its underlying essence.

	At the risk of coming across as traders/researchers who model complex 
economic processes: On Tuesday, we expect November Producer Prices (8:30am)
to come in at the consensus estimate of +0.5% and Retail Sales (8:30am) to
come in above consensus estimates of +0.5%. On Wednesday, we expect November
Capacity Utilization to show continued strength and come in above consensus
estimates of 84.8%. On Thursday, we expect Jobless Claims to rise above
consensus estimates of 319,000. On Friday, we expect Housing Starts to slow 
down and come in below consensus annual estimates of 1.44 Mil. And remember,
we're not economists...in fact, we won't even pass for an excuse of the kind.

	If you remember, we wrote about the equity and bond markets decoupling
action about two weeks before it happened - that sentiment was echoed here
since there was a structural tendency at the time for the US dollar to show
signs of divergent action with bonds, especially after sentiment which called
for a weak dollar and weak bonds was overdone. With everyone now ranting
about Orange County and Fixed Income, we expect a slightly different picture
to unfold: We expect the US dollar to hold at a trading range against the 
Yen and other currencies for the short/intermediate term but would be inclined
to expect weakness in the Dollar against the Mark once the Tuetonic folk
decide to act on rates there. 

	With regards to local Fixed Income views and Fed action, both in a 
melting pot: we don't expect the Fed to raise rates in December but do expect
a 50 basis point hike in February even if we have some startling evidence
of inflation show up in the interim, which may we add, is very likely - we'll
comfortably bet that you'll have a good probability of finding the Fed board
going crazy on expenditure while working on what promises to be a LONG 
Christmas shopping list. Once again, expect a lot of opportunities at the two
ends of the yield curve. For the short term, we would expect the the same
kind of dynamics (flattening) to be preserved but by an inverse action i.e. 
yields rising at the lower maturities (prices falling) and yields decreasing 
(prices rising) at the upper end maturities.     


	On 12/7/94, our SP-500 (SPX, 451.23) models reversed their bullish
outlook and intermediate term indicators fell in line with the shorter
ter (quicker responding) and turned bearish. Volatility which previously
showed compression action expanded on the downside and the index finally 
closed the week at 446.97. On Friday, we had a whiplash intraday signal - a
projection of 439 on the SPX on an intraday basis reversed to 446 on the 
index..the SPX closed slightly lesser than a point of the projection for the
day (got after the first hour and a half of trading). The SPX seems to be
between a band of support at around the 443-444.5 level and a band of 
resistance between 447-449. For the short term, we would be inclined to play
bullish until we have key economic numbers released. Our stance for the later
part of the week will be dictated by market action verifying what our
proprietary indicators have to say at that point. Short term bullish,
intermediate term reversal expected by late Tuesday or Wednesday.

	A comparison of the Dow Jones Industrials (DJIA, 3691.11) and other
indices will show that the blue chips have held up well through the carnage.
We'd view any rallies in the index as suspect and would expect strong 
resistance to any upside movement at around the 3720 level. A break of 
3760 - 3665 would spell renewed trouble. The Utilities (DJUI, 179.34)
seems to be forming a bottoming pattern. We would expect short term weakness
in this index before it takes off on the upside. The Transports (DJTI, 1380.97)
broke two year lows and seems to have regained an iota of strength by closing
up 3.49 points on Friday. We don't think we've seen the end of this yet. the
index should now closely follow and be extremely sensitive to the performance
of the DOW and the SPX.

	On sectors, we favor the Oils, Retailers, Pharmaceuticals and select
Technology issues. Our stances on the Precious have not fared well in the
recent past...we'll refrain.

	STAY HEDGED!

/-------------------------------\
 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)

	We continue to favor holding a diversified portfolio as opposed to 
making large asset allocation bets.

/------------\   
 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 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 immediately.

        New Alerts             : MU, AXP, MOT, PG, CS, CC, FDX
        Moved to Portfolio     : DOLR, PLAY, ABF, AKLM, SMRT 
        Deletions              : 

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

  SHORT	   Micron Technology  $41 5/8 	  Earnings due! See sample hedge!
	   MU                 12/10/94    Crossing $41 1/2. Buy Stop $44 1/2
-------------------------------------------------------------------------------
  LONG	   Circuit City       $23 3/8     Earnings due! Crossing above $23 1/2
           CC                 12/10/94    Sell Stop $22 7/8
-------------------------------------------------------------------------------
  LONG     Federal Express    $54         Earnings due!
           FDX                12/10/94    Crossing $54 3/8. Sell Stop $53 1/4
-------------------------------------------------------------------------------
  LONG     American Express   $28 3/4     Crossing above $29
           AXP                12/10/94    Sell Stop $28
-------------------------------------------------------------------------------
  LONG     Motorola           $55 1/4     Crossing $55 1/2
           MOT                12/10/94    Sell Stop 54 3/8
-------------------------------------------------------------------------------
  LONG     Procter & Gamble   $62         Crossing $62 3/8
           PG                 12/10/94    Sell Stop $61 3/8
-------------------------------------------------------------------------------
  LONG     Cabletron          $43 3/8     Crossing $43 1/2
           CS                 12/10/94    Sell Stop $42 7/8
-------------------------------------------------------------------------------
                                                   
/-------------\
 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      Micron Dec 45C (MULH)   $1/2            Micron hedge! 
----------------------------------------------------------------------------
  LONG      Fedex Dec 55C (LK)      $1/2            Earnings due!
----------------------------------------------------------------------------
  SHORT     SPX Jan 445P (MI)       $7 1/8          Traders only!
  LONG      SPX Dec 450C (LJ)       $2 1/2          Credit of $2 1/2
  LONG      OEX Dec 415P (XC)       $2 1/8       
----------------------------------------------------------------------------
  LONG      OEX Dec 420C (OEXLD)    $2 1/8          Volatility is your friend!
  LONG      OEX Dec 415C (OEXXC)    $2 1/8     
----------------------------------------------------------------------------

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

(S) Players Int'l  $21 1/2       $17 3/4      +21.12%   Buy Stop $18 3/8
PLAY               12/2/94
-----------------------------------------------------------------------------
(S) Dollar General $28 3/16      $27 3/4      +1.54%    Buy Stop $28 1/2
DOLR               12/2/94         
-----------------------------------------------------------------------------
Airborne Freight   $20 1/8       $19 3/4      -1.83%    Sell Stop $19
ABF                12/2/94
-----------------------------------------------------------------------------
Acclaim Ent.       $15 1/8       $14 1/4      -5.75%    Sell Stop $13 1/2
AKLM               12/2/94
-----------------------------------------------------------------------------
Stein Mart Inc.    $14 3/4       $14 3/4      +/- 0%    Sell Stop $14%
SMRT
-----------------------------------------------------------------------------
Kansas City South  $31 1/2       $30 1/4      -3.96%    Sell Stop $29 1/2
KSU                11/30/94
-----------------------------------------------------------------------------
Western Digital    $18           $17 3/4      -1.38%    Sell Stop $16 15/16
DC                 11/28/94
-----------------------------------------------------------------------------
(S) CheeseCake     $16 1/8       $15 1/2      +4%       Buy Stop $16 1/8
CAKE               11/21/94        
-----------------------------------------------------------------------------
(S) Old Kent Fin   $31 1/4       $30 1/8      +3.75%    Buy Stop $31 7/8
OKEN               11/22/94     
-----------------------------------------------------------------------------
(S) Home Depot     $46 1/2       $44 1/2      +4.49%    Buy Stop $45 3/8
HD                 11/21/94    
-----------------------------------------------------------------------------
Progress Sware     $34           $37 1/4      +9.55%    Sell Stop $36 1/2
PRGS               11/21/94    
-----------------------------------------------------------------------------
National Gypsum    $34           $40 3/4      +19.85%   Rumors there's a
NGCO               11/15/94                             higher offer!
-----------------------------------------------------------------------------
Hecla Mining       $10 5/8       $10 1/4      -3.57%    Sell Stop $9 1/2
HL                 11/15/94         
-----------------------------------------------------------------------------
Taiwan Fund        $26 1/2       $27 1/2      +3.77%    Sell Stop $25
TWN                11/9/94
----------------------------------------------------------------------------
India Inv Fund     L $13 3/8     $13 1/8      -1.86%    Averaged by buying 
Fund (Morgan St)   2/94 & 12/94                         at $11 3/4       
------------------------------------------------------------------------------
Spectrum Signal    $4 5/8        $4 3/8       -6.42%    Averaged by buying
Processing  SSPIF  '93 to 12/94                         at $4 3/8 
------------------------------------------------------------------------------
Colossal           $1.50Cdn      $2.85 Cdn    +90%      Hit $3.20 this week!
Resources   CLP.V  7/93 - 1/94                          Holding!
------------------------------------------------------------------------------
                                                        
/------------------------\
 OPEN POSITIONS - OPTIONS
\------------------------/

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

Royal Dutch Dec 110 C    $9/16            $1/4               -52.83%
RDLB                     12/2/94
----------------------------------------------------------------------------
Amgen Dec 55 P           $9/16            
AMQXK                    12/2/94
----------------------------------------------------------------------------
Toys R Us Dec 40C        $3/4             $1/8               -84%
TOYLH                    10/23/94
----------------------------------------------------------------------------
Glaxo Jan 22 1/2 Calls   $1/4             $1/8               -50%
GLXAX                    10/17/94
---------------------------------------------------------------------------
Amer Barr Dec 22 1/2 C   $1/2             $1/8               -75.0%
ABXLX                    11/28/94
---------------------------------------------------------------------------
                                                          
/---------------------------------\
 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
============================================================================

Mark IV Indus      $21 1/2         $19 7/8             -7.58%   
IV                 9/12/94         12/6/94
------------------------------------------------------------------------------
Altera             S $38 1/4       $37                 +3.37%   
ALTR               11/17/94        12/09/94    
-----------------------------------------------------------------------------
(S) Starbucks      $28             $26 3/4             +4.46%     
SBUX               11/21/94        11/29/94
-----------------------------------------------------------------------------
Lam Resrch         (S) $43 1/4     $38                 +12.14%    
LRCX               11/7/94         12/2/94
----------------------------------------------------------------------------
Coca Cola Femsa    (S) $31 1/2     $29 3/8             +6.75%   
KOF                10/31/94        11/28/94
---------------------------------------------------------------------------- 
Aon Corp           (S) $32 3/8     $31                 +4.25%    
AOC                10/24/94        11/28/94
-----------------------------------------------------------------------------
TRW Inc.           (S) $72 3/4     $64 3/8             +11.51%   
TRW                9/20/94         11/28/94
------------------------------------------------------------------------------
American Barrick   $23 1/2         $21                 -10.64%
ABX                11/5/94         11/23/94         
-----------------------------------------------------------------------------
Sybase             (S) $49         $42                 +16.66%   
SYBS               11/7/94         11/22/94               
-----------------------------------------------------------------------------
Brinker Intl       $22             $18                 -18.18%     
EAT                11/15/94        11/22/94
-----------------------------------------------------------------------------
Phelps Dodge       $57 3/8         $56 1/2             -1.5%   
PD                 11/15/94        11/22/94      
-----------------------------------------------------------------------------
GAP Stores         $33 3/8         $37 1/4             +11.62%  
GPS                11/1/94         11/17/94 
----------------------------------------------------------------------------
Pan Amer Bevrg     (S) $34 3/8     $35 1/8             -2.18%
PB                 10/31/94        11/17/94 
----------------------------------------------------------------------------
Charles Schwab     (S) $35 3/4     $33 5/8             +6.17%    
SCH                11/2/94         11/16/94
------------------------------------------------------------------------------
Williams Sonoma    (S) $32 3/4     $30 7/8             +6.09%    
WSGC               10/17/94        11/15/94
------------------------------------------------------------------------------
General Motors     (S) $46 7/8     $39 3/4             +17.91%   
GM                 10/17/94        11/16/94
------------------------------------------------------------------------------
Tribune Co.        (S) $55 3/4     $52 1/4             +6.69%    
TRB                9/27/94         11/16/94
------------------------------------------------------------------------------
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      Sell Price      %Change
 Series                  Date                
*========================================================================*

Deere Dec 65 C           $1               $1 1/2             +50%
DELM                     12/2/94          12/5/94
----------------------------------------------------------------------------
Broderbund Dec 35 P      $7/8             $2 1/8             +171.79%
BDQXG                    12/2/94          12/8/94
----------------------------------------------------------------------------
SPX Dec 450P SPXXJ       $3 1/8 } 12/2    $9 1/2 } 12/8/94   +204.48%
SPX Dec 455C SPXLK       $3 7/8 } 12/2    $8     } 12/9/94   +106.71%
----------------------------------------------------------------------------
TelMex Jan 55 Calls      $2 5/16          $2                 -13.41%
TMXAK                                     12/6/94
---------------------------------------------------------------------------
Oracle Dec 40C (LH)      $2               $2 1/4             +12.5%
ORQLH                    11/28/94         12/6/94
---------------------------------------------------------------------------
Initial Credit $3 3/4    11/28/94      11/30/94      

S SPX Dec 450C (LJ)      $8            $8               $0            0%
S SPX Dec 450P (XJ)      $5            $3 7/8          +$1 1/8   +29.19%
L OEX Dec 425C (LE)      $4            $5              +$1       +25.00%
L SPX Dec 445P (XI)      $2 3/4        $2 1/8          -$5/8     -22.90%
L SPX Dec 460C (LL)      $2 1/2        $3 3/4          +$1/2     +50.00%

            % Gain with all positions of equal size  : +81.29%
            Actual % gain taking credit into account : +53.33%    
            Initial credit was $3 3/4. Came out with $5 3/4 
---------------------------------------------------------------------------
SPX Dec 460C (LL)        $2 7/8 } 11/28  $2 12/2        Cost   $7.13
SPX Dec 455P (XK)        $4 1/4 } 11/30  $7 12/2        Return $1.88
                                                        Net    +26.38%
---------------------------------------------------------------------------
S SPX Jan 460C (AL)      $13 1/8       $5 1/8  (11/23/94)   +156.25% }
L SPX Dec 465C (LM)      $5 3/4        $4 7/8  (11/21/94)   -15.30%  } +378.38%
L OEX Dec 430P (XF)      $5 3/8        $18 1/8 (11/23/94)   +237.43% }

                       on 11/21/94     * OEX adjusted for credit of +$2
----------------------------------------------------------------------------
L SPX Dec 465C (LM)      $5 3/4        $4 7/8   (11/21/94)  -15.30%  } +197.07%
L SPX Dec 455P (XK)      $4 1/8        $12 7/8  (11/23/94)  +212.37% }
----------------------------------------------------------------------------
S Home Depot Dec 45C    $2 3/4            $2 3/8           +16.0%
L            Dec 50C    $1/4              $1/4             +/- 0%
             LI & LJ    11/12/94     
---------------------------------------------------------------------------
SPX Nov 460 P           $1/2              $1               +100%
SPXWL                   11/16/94          11/17/94
---------------------------------------------------------------------------
Nordstrom  Nov 45P (WI)  $3/8             $1/4             -100%  
           Nov 50C (KJ)  $1               $3/16            -100%
----------------------------------------------------------------------------
Gap Stores Nov 35P (WG)  $3/8             $1/8             -100%  } -76%
           Nov 40C (KH)  $1/4             $0.31            +24%   }
----------------------------------------------------------------------------
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. Prices indicate are representative and commissions are not
represented in the P/L numbers. 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 the  professional  and  qualified  opinion of a  Registered  Investment  
Adviser, Registered Representative, or Certified Financial Planner before 
                            investing.
***************************************************************************
                           Ph: (716)272-0963                   
***************************************************************************
