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Subject: NeuroQuant Profiles '94 Performance Statistics
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Date: Fri, 6 Jan 1995 22:59:27 GMT
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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  /\
  \---------------------------------------------------------------------/

	           1994 PERFORMANCE STATISTICS & COMMENTARY 
                   . . . . . . . . . . . . . . . . . . . . .

  ---------------------------------------------------------------------------
              NQ Equity Model Portfolio Return for 1994 : +  52.6%  (Est Adj)  
              NQ Option Model Portoflio Return for 1994 : + 516.60% (Est Adj)
                Standard & Poor's 500 Return for 1994   : - 1.5%
                   Nasdaq Composite Return for 1994     : - 3.2%
                     Russell 2000 Return for 1994       : - 3.19%
   -----------------------------------------------------------------------
    NeuroQuant Model Portfolio signals have not had a losing week in '94
   -----------------------------------------------------------------------
               WORST 9                                BEST 9 
                                                                
       Brinker Intl      -18.18%             Solar Pharm     +135.77% 
       Synoptics         -14.52%             TelMex (L)      +51.27%
       BioPharmaceutics  -13.92%             Intr Dgtal      +46.29%
       Electronics Arts  -12.35%             Cabletron       +34.28%
       Acclaim Entr      -10.75%             Chiron          +29.77%
       Amer Barricks     -10.64%             Tencor          +28.87%
       Starbucks	 -9.78%              Telmex (S)      +24.36%
       Potash            -9.28%              Motorola        +24.06%
       Telex Chile       -8.07%              Amer Power Cnv  +23.19%
   -----------------------------------------------------------------------
	       EQUITY HIT RATE ON SHORT SIDE : 70.97%   
                                   LONG SIDE : 58.57%
   -----------------------------------------------------------------------


	Listed below are PERFORMANCE STATISTICS and commentaries of NEUROQUANT 
signals that were posted out in the open for the whole net world to see BEFORE 
market opened on the Monday mornings of a volatile rich, but rewarding 1994....

	Since NeuroQuant started profiling stocks/options without regard to the
actual amounts of capital invested since the beginning of the year, puting 
down a particular return on model portfolio number does not make sense - to 
make risk profile and performance results meaningful, we've presented 
statistical analysis that will give the reader a good idea of the performance 
and level of risk tolerance of our models. Please bear this in mind when you're
going through the results and the commentary that follows. Lastly, we believe 
all numbers reported to be correct - if you find any errors please notify us 
and we'll correct it. 

	Throughout 1994 we've consistently put down actual numbers and price 
levels that would trigger trades by our proprietary models in an "easy to 
follow and implement" manner. Unlike a lot of newsletters that cloud stances 
in rich verbiage while comfortably claiming they're "99% accurate on the SPX" 
you'll notice that we've elected to stick to the trading process and have laid 
down the trades, projections and hard numbers every single week BEFORE market 
opened in a no-nonsense manner. 
    
	We've had problems and delays time and again in going commercial in
1994 since we are actively involved in proprietary trading and as such have to 
go through specialized legal procedures. However this "free-for-all before 
market open" forum has provided you, the reader, a chance to "check us out" 
and our performance every week through a year and an environment that has been 
hard on most people. We intend to work through the legal processes that are 
involved and do intend to take the electronic forum commercial in 1995 (we've 
delayed it by over 6 months!)....How good/bad are we? We'll let the numbers 
and the analysis speak for us....    
 
	And remember folks, we don't claim to call every turning point in the 
markets and neither do we boast "tall" of a "99% accuracy" figure. We trade
more than we write....1994 has been a very good year - the model portfolio
has not had a losing week! We hope to remain "on the right side of the 
market" in 1995.

	Thank you for all the support....

 		-- The NeuroQuant Team 



\---------------------------/------------------------------------------	
 \ EQUITY PORTFOLIO STATS  /
  \-----------------------/

   Profitable Trades/Total Trades : 63/101 = 62.37%
   Profitable Shorts/Total Short  : 22/31  = 70.96%
   Profitable Longs/Total Long    : 41/70  = 58.57%

   Total Number of Equity Trades Closed : 101 (Approx 2 trades a week)
	         Number of Short Trades : 31  
	         Number of  Long Trades : 70
  
		Average % Return on Trade 	7.26%
		Summed % Return			733.4%	
		Std Dev				17.99
		Worst % Return			-18.18%
		Best % Return 			135.77%
  		Range of Return			153.95
		Confidence Level (95.0%)	3.509
		Std Error       		1.79
		Median				5.63
		Mode				-1.5
		Sample Variance 		323.74
		Kurtosis			25.537
		Skewness			3.907


	Since the numbers above don't make sense without transaction costs and
allocation of bets, we'll sketch a return scenario:

	Assuming transaction costs and bid-ask spreads to account to about 2%
per trade, the average return per trade of 7.26% drops to 5.26%. With capital 
allocation of 10% for each trade, and with a holding period of about a month
(101 trades in 1994) you'd have made an ANNUAL RETURN OF 52.6% (compounding
not included!). Compare that portfolio return to the SP-500 which returned 
-1.5%.
 
	Enough said. A cumulative % histogram of equity returns follows on the
next page. We urge you to look at the distribution and skewness of the curve
and the frequency of each range at the bottom.


	
               --------------------------------------------
	       CUMULATIVE % HISTOGRAM OF EQUITY RETURNS '94          
               --------------------------------------------

                                 .................................
	50	             X .                                    100%
        45                 . X                                      90%
Number	40                .  X                                      80%
  of	35               .   X                                      70%
Trades	30              .    X                                      60%
	25           X .     X                                      50%   
	20          .X       X     X                                40%      
	15        .  X       X     X                                30%
	10      .    X       X     X                                20% 
	5      .     X       X     X     X                          10%     
	0    X       X       X     X     X      X               X  .00% 
                                                                     
	  -18.18%  10.0%   12.61%  25%  43.4%  74.19%  104.98% 135%   
            F=1     F=25    F=49   F=20  F=4    F=2             F=1

		       	% Return on Trade



\---------------------------/------------------------------------------	
 \ OPTION PORTFOLIO STATS  /
  \-----------------------/

   Profitable Trades/Total Trades   : 35/74  = 47.3%
   Profitable Puts/Total Puts       : 10/18  = 55.56%
   Profitable Calls/Total Calls     : 24/44  = 54.55%
   Profitable Spreads/Total Spreads : 10/12  = 83.33%

   Total Positions Closed (Incl Spreads) : 74 (Approx 2 trades a week)
	      Number of Long Puts Trades : 18  
	      Number of Long Call Trades : 44
	      Number of Spreads          : 12
  
	Average % Return of an Option 	88.36%
	Summed % Return			6538.9%	
	Std Dev				174.9596
	Worst % Return			-100%
	Best % Return 			830.23%
  	Range of Return			930.23
	Confidence Level (95.0%)	39.8629
	Std Error       		20.3386
	Median				36.43
	Mode				-100
	Sample Variance 		30610.864
	Kurtosis			3.6849
	Skewness			1.7474


	Again, sketching a return scenario for options:

	Assuming transaction costs and bid-ask spreads to account to about 
25% per position, the average raw return per position drops from 88.36% to 
62.4%. From 62.4% we'll pull out another 10% of since most of us are not nimble 
traders or are receipients of bad execution, which should take the average 
return per position down to 52.4%. Now, at two trades a week (74 was the total 
number for the year) you'd have an ANNUAL RETURN of 628.8%. Now considering 
channeling of options and time until expiration you'd have a 9 month return of 
516.60%. 

	Please note that the results above are on a per-position basis. All
straddles and spreads (12 in all) have been counted as a single position. Also
remember that we've not sold options - only bought them which has mitigated
risk. Notice the skewness of returns, too...
      


               --------------------------------------------
	       CUMULATIVE % HISTOGRAM OF OPTION RETURNS '94          
               --------------------------------------------

                                         . . ...............
	30	                     . ..                        100%
                  X                .                              90%
Number	25        X      ....   . .                               80%
  of	          X ....X    . .                                  70%
Trades	15        X.    X                                         60%
	        . X     X                                         50%   
	10     .  X     X                                         40%      
	      .   X     X     X                                   30%
        5    X    X     X     X           X                       20% 
	     X    X     X     X     X     X     X          X      10%     
	0    X    X     X     X     X     X     X          X     .00% 
                                                                     
	   -100%      132.55%     365.115%     597.67%    800%  
            F=5  F=26  F=22  F=9    F=4  F=8    F=2       F=2    

		       	% Return on Trade


*************************** 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                   
***************************************************************************


/------------------------\
 EQUITY PORTFOLIO HISTORY
\------------------------/

	Following are the stocks that were first listed as signals in the
STOCK ALERTS column, then taken in as open positions in the EQUITY PORTFOLIO
after listed technical conditions were met and subsequently closed out after 
sell conditions were triggered. Every signal action listed here was posted 
BEFORE market open on Monday morning and on a weekly basis. 

============================================================================
Security          Entry Price       Closed            %Change   
Name &  Ticker    and Date          Date
============================================================================

(S)Micron Tech.    $41 1/2         $43                 -3.48%
MU                 12/12/94        12/21/94
------------------------------------------------------------------------------
Progress Sware     $34             $36 1/2             +7.35%   
PRGS               11/21/94        12/20/94
------------------------------------------------------------------------------
Kansas City South  $31 1/2         $31                 -1.5%   
KSU                11/30/94        12/27/94
------------------------------------------------------------------------------
(S) America Online $47 7/8         $48 3/4             -1.80%
AMER               12/19/94        12/20/94
----------------------------------------------------------------------------
(S) Horizon Health $27 3/8         $28 1/2             -3.96%
HHC                12/19/94        12/22/94 
----------------------------------------------------------------------------
(S) Players Int'l  $21 1/2         $18 3/8             +14.53%   
PLAY               12/2/94         12/14/94
-----------------------------------------------------------------------------
(S) Dollar General $28 3/16        $28 1/2             -1.12%    
DOLR               12/2/94         12/12/94  
-----------------------------------------------------------------------------
Acclaim Ent.       $15 1/8         $13 1/2             -10.75%   
AKLM               12/2/94         12/13/94
-----------------------------------------------------------------------------
Western Digital    $18             $16 15/16           -5.90%    
WDC                11/28/94        12/12/94
-----------------------------------------------------------------------------
(S) Home Depot     $46 1/2         $45 3/8             +2.42%    
HD                 11/21/94        12/14/94
-----------------------------------------------------------------------------
Circuit City       $23 1/2         $22 7/8             -2.66%    
CC                 12/12/94        12/14/94
-----------------------------------------------------------------------------
Mark IV Indus      $21 1/2         $19 7/8             -7.58%   
IV                 9/12/94         12/6/94
------------------------------------------------------------------------------
(S) Altera         $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
-----------------------------------------------------------------------------
(S) Lam Resrch     $43 1/4         $38                 +12.14%    
LRCX               11/7/94         12/2/94
----------------------------------------------------------------------------
(S) Coca Cola Fmsa $31 1/2         $29 3/8             +6.75%   
KOF                10/31/94        11/28/94
---------------------------------------------------------------------------- 
(S) Aon Corp       $32 3/8         $31                 +4.25%    
AOC                10/24/94        11/28/94
-----------------------------------------------------------------------------
(S) TRW Inc.       $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         
-----------------------------------------------------------------------------
(S) Sybase         $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 
----------------------------------------------------------------------------
(S) Pan Amer Bevrg $34 3/8         $35 1/8             -2.18%
PB                 10/31/94        11/17/94 
----------------------------------------------------------------------------
(S) Charles Schwab $35 3/4         $33 5/8             +6.17%    
SCH                11/2/94         11/16/94
------------------------------------------------------------------------------
(S) Williams Snma  $32 3/4         $30 7/8             +6.09%    
WSGC               10/17/94        11/15/94
------------------------------------------------------------------------------
(S) General Motors $46 7/8         $39 3/4             +17.91%   
GM                 10/17/94        11/16/94
------------------------------------------------------------------------------
(S) Tribune Co.    $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
----------------------------------------------------------------------------
(S) Amgen          $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
----------------------------------------------------------------------------
(S) Pacific Hlth   $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                    
-----------------------------------------------------------------------------
(S) TelMex         $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            
-----------------------------------------------------------------------------
(S) Cracker Barrel $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        $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
------------------------------------------------------------------------------
(S) Starbucks      $23             $25 1/4             -9.78%       
SBUX               9/30/94         10/21/94
----------------------------------------------------------------------------
(S) Winn Dixie     $50 3/8         $51 5/8             -2.48% 
WIN                9/26/94         10/17/94
----------------------------------------------------------------------------
(S) Biogen         $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      $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 Pwr Cnv   $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
----------------------------------------------------------------------------
(S) Whirlpool      $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
----------------------------------------------------------------------------
(S) Dell Computer  $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 (WFLT)    $20 1/8         $22 3/4             +13.07%
Communications     8/16/94         9/6/94
----------------------------------------------------------------------------
Becton Dickenson   $42 1/8         $43 3/4             +3.87%
BDX                7/30/94         9/1/94
----------------------------------------------------------------------------
(S) NL Industries  $11 3/4         $9 3/4              +20.51%
NL                 7/22/94         8/31/94
----------------------------------------------------------------------------
Newbridge (NNCXF)  $34 5/8         $32                 -7.59%
Networks           6/17/94         8/31/94
----------------------------------------------------------------------------
Sterling Chem      $9 1/2          $11 1/8             +13.16%
STX                8/7/94          8/31/94  
----------------------------------------------------------------------------
Mercer Intl        $12 1/4         $11 3/8             -7.1 %
MERCS              8/14 -          8/19/94
----------------------------------------------------------------------------
Atlantic Rchfld    $106 5/8        $104 3/8            -2.0 %
ARC                7/30/94         8/19/94
----------------------------------------------------------------------------
Mercer Intl        $7 7/8          $9 3/8              +19.19%
MERCS              4/14/94         6/21/94
----------------------------------------------------------------------------
Helionetics        $3 7/16         $3 1/4              -5.52%
ZAP                                6/21/94
----------------------------------------------------------------------------
Solar  (SL.V)      $1.23Cdn        $2.90               +135.77%
Pharmaceuticals    8/93-9/93       4/25/94
----------------------------------------------------------------------------
Newbridge (NNCXF)  $47 3/4         $53                 +10%
Networks           4/26/94         5/5/94
----------------------------------------------------------------------------
Telefonos de       $49             $74 1/8             +51.27%
Mexico  (TMX)      11/09/93        2/16/94
----------------------------------------------------------------------------
Interdigital       $3 1/2          $5 1/8              +46.29%
IDC                4/21/94         4/29/94
----------------------------------------------------------------------------
Motorola           $86 1/4         $107                +24.06%
MOT                12/20/93        3/15/94
----------------------------------------------------------------------------
(S) Telefonos de   $73 3/8         $59.0               +24.36%
Mexico (TMX)       2/10/94         4/25/94
----------------------------------------------------------------------------
(S) Adobe Systems  33 1/2          $26 1/4             +21.64%
ADBE               3/14/94         4/5/94
----------------------------------------------------------------------------
(S) Gupta Corp     $30 1/4         $25 3/4             +14.88%
GPTA               3/3/94          4/4/94
----------------------------------------------------------------------------
Casino & (CACS)    $7 3/4          $8 5/8              +11.87%
Credit Services    12/13/93        3/28/94
----------------------------------------------------------------------------
Zoom Telephonics   $10 1/2         $11 3/4             + 11.9%
ZOOM               12/13/93        4/26/94 
----------------------------------------------------------------------------
BioPharmaceutics   $1 15/16        $1 5/8              -13.92%
BPH                10/14/93        4/4/94
----------------------------------------------------------------------------
Synoptics  (SNPX)  $25             $21 3/8             -14.52%
Communications     12/08/93        3/25/94
----------------------------------------------------------------------------
        

                                    
/------------------------\
 OPTION PORTFOLIO HISTORY
\------------------------/

	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 
*========================================================================*

Micron Dec 45C (MULH)    $1 3/4            $1                -42.85%
                         12/12/94          12/16/94     This was a hedge!
---------------------------------------------------------------------------
Fedex Dec 55C (LK)       $3/4              $2 5/8            +256%
                         12/12/94          12/16/94
---------------------------------------------------------------------------
(S) SPX Jan 445P (MI)    $7 1/8            $2 1/4            +216.44%
SPX Dec 450C (LJ)        $1 3/4            $5 5/8            +224%
OEX Dec 415P (XC)        $2                $2 3/8 } 12/13    +18.5%
                         12/12/94    Adj for Credit +$3 3/8  Net: +458.94%
---------------------------------------------------------------------------
OEX Dec 420C (OEXLD)     $2                $9 5/8            +383.3% 
OEX Dec 415P (OEXXC)     $2                $1     }12/13     -50.0%
                         12/12/94                            Net:  +333.33%
---------------------------------------------------------------------------
Amgen Dec 55 P           $9/16            $2                 +257.14%
AMQXK                    12/2/94          12/9/94
---------------------------------------------------------------------------
Amer Barr Dec 22 1/2 C   $1/2             $0                 -100%
ABXLX                    11/28/94
---------------------------------------------------------------------------
Toys R Us Dec 40C        $3/4             $0                 -100%
TOYLH                    10/23/94
---------------------------------------------------------------------------
Royal Dutch Dec 110 C    $9/16            $0                 -100%
RDLB                     12/2/94
-----------------------------------------------------------------------------
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% {311.19}
----------------------------------------------------------------------------
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 $5.75 
---------------------------------------------------------------------------
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% }
---------------------------------------------------------------------------
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
-------------------------------------------------------------------------
 Xilinx         XLQJJ    $1 15/16         $1 1/2               -22.68%
 Oct 50 Calls            8/28/94          8/30/94
-------------------------------------------------------------------------
 Lonestar       LQSIE    $1/2             $1 1/2               +200%
 Steakhouse              8/28/94          8/29/94
 Sept 25 Calls           
-------------------------------------------------------------------------
 Chiron         CIQIL    $1 13/16         $9                   +397.24% 
 Sept 60C                8/19/94          9/2/94
-------------------------------------------------------------------------
 Glaxo          GLXIW    $0.81            $1 15/16             +139.51% 
 Sept 17 1/2C            7/30/94          9/2/94
-------------------------------------------------------------------------
 Merck          MRKIF    $0.68            $4                   +488.24%
 Sept 30C                8/7/94           9/1/94
-------------------------------------------------------------------------
 Glaxo          GLXHW    $1/2             $2 3/8               +374 %
 Aug 17 1/2C             7/30/94          8/19/94
-------------------------------------------------------------------------
 Merck          MRQHF    $0.43            $4                   +830.23%
 Aug 30C                 7/29/94          8/19/94
-------------------------------------------------------------------------
 Newbridge      NNQHE    $3 1/2           $6 3/4               +92.8%
 Aug 25C                 7/30/94
-------------------------------------------------------------------------
 Caterpillar    CATTA    $3/4             $5/8                 -12.5%
 Aug 105P	         7/11/94               
-------------------------------------------------------------------------
 Cabletron      CSGT     $1 3/4           $9 3/4               +457.14%
 July 100C	         7/11/94          7/13/94
-------------------------------------------------------------------------
 SP-500         SPXGJ    $1               $3 1/2               +250.0%
 July 450C	         7/11/94          X:7/15/94
-------------------------------------------------------------------------
 XAU            XAUSJ    $6 3/8           $2.0                 -68.6%
 July 115P	         6/17/94          7/5/94
-------------------------------------------------------------------------
 SP-500         SPXSK    $2 3/4           $7 7/8               +168.68%
 July 455P	         6/16/94          7/7/94
-------------------------------------------------------------------------
 CPQ            CPQQT    $2               $3 3/8               +68.50%
 May 100P                5/3 - 5/5/94     5/10/94
-------------------------------------------------------------------------
 CPQ May        CPQQT    $2 3/4           $7 1/2               +172.00%
 May 100P	         5/11/94)         5/13/94
-------------------------------------------------------------------------
 MSFT           MSQRK    $1 5/8           $2 1/4               +38.04%
 June 55P	         6/2 - 6/10/94
-------------------------------------------------------------------------
 CPQ June       CPQFG    $1/8             $0                   -100 %
 June 35C	         6/8 - 6/15
-------------------------------------------------------------------------


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

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***************************************************************************
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