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Subject: NeuroQuant Profiles (Sept 19th, '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  /\
\/-  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  -  - \/
/\ Last Update: Sep 10th, '94                This Update: Sept 18th, '94 /\
\/                           Volume 1, Issue 6                           \/
 \-----------------------------------------------------------------------/
       | RESEARCH: The NEUROQUANT natural & artificial brain models.... |
        \--------------------------------------------------------------/ 
                 | For Information: Call Al or Nipun at (716)424-8170 |
                  \---------------------------------------------------/
  
/----------\
 THIS ISSUE
\----------/

	* Our models favor a sidelines stance. We'd be inclined to liquidate
          profitable positions if markets show deterioration;

        * T-Bonds broke down as indicated and continue to look weak with
          the greenback;
                                                         
	* Expect short term ergodic behavior in the markets - ie. might
          see a short lived upward movement due to a short term decoupling 
          of stocks and bonds. Overall we're neutral-bearish;

        * New Signals on LRCX, ORCL, CSCO, HL - Please be wary of 
          developing market conditions;

	* Foreign markets to show weakness, too;

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

	He who perceives inaction in action 
        and action in inaction 
	has attained real knowledge among men; 
	even while performing all action.

					- The Gita

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

	THAT, dear reader, is what the wise and ancient Hindu scripts have to
say about perspective. And perspective, a plan of flexible action, multiple
contingency plans, and the emotional will to carry them through with egoless
discipline are qualities that make a good trader. Albiet a heady and confusing
time for market participants, there probably cannot be a more opportune time
to reflect upon this than now - the markets have been taking all of us along 
on a ride and we're pretty sure that Mr. Eisner has no hand in this (See Vol I,
Issue 6) - he has not brought his mega roller coasters to Wall Street, yet. 

	Last week was once again a demonstration of the endemic myopia on the 
Street - after focusing the Friday before on the PPI, it was time to fixate on
the CPI and when that turned out to be a non-event, the focus was on capacity
utilization and industrial production, the numbers stripping an already naked 
fixed income market yet another time. May be these folks should flock to
Starbuck's for a hot cup of caffeinated coffee and then en masse to 
Lenscrafters and wait in line for about an hour!

	Through the looking glass, and amidst the cloud of volatility, it seems
like the second leg of expansion is in place with stocks and bonds -inseparable 
lovers that they are in the eyes of many - behaving like they have had a tiff.
The key in this torrid and heady love affair is earnings.  Whether stocks will
go the way of bonds depends on when earnings start to peak. Analysts continue
to revise their estimates upwards for now. The fixed income markets continue 
to probe for signs of inflation and possible Fed action. The strength of the 
dollar does not seem to be helping any - it has suddenly become spineless 
and continues to crawl downwards.

	Otherwise, all eyes seem to be focused on Haiti. Thankfully, General 
Cedras did not pull a plutonium ploy (remember, he probably has friends of 
convenience in North Korea who can enrich him) sending shock waves through the
markets - and making all the Gold bugs happy by helping propel the metal upward
through the $400 mark. Plutonium ploys resting we expect the Haiti situation 
to be pretty much a non-event as far as the markets are concerned. However, 
what seems interesting is the fact that Fidel Castro now talks about economic 
and democratic reform. Perhaps, it was the sight of battleships up close, just 
beyond the rafts that set him thinking. Can somebody please volunteer to take 
him through a tour of the futures trading pits? Of course, talk and action
are entirely different things as we all know from listening to the management
of many a company. For those who cannot resist the temptation, YES there is 
the Cuba Fund (CUBA).
 
/------------\
 MARKET SCOPE
\------------/

	Intermarket conditions seem a little fuzzy at the current time.
Overall, our models show conflicting signals on the broader direction of the 
markets. On a purely technical basis, we're inclined to believe that we'll
see a rally of modest means before a sell-off can occur, which we think is
likely to happen. 

	Perhaps, the problem lies in the nerves of the fixed income markets -
not only in the US, but worldwide. While global markets look weak (CAC, DAX-40
and others) the bond markets are in one word, scared. And rightly so since 
rates are on the rise. With regards to the markets in the US, we'll likely
see continued weakness in the dollar, the panacea being a rise in rates
in this country...which should translate to further weakness to the already
beaten down fixed income markets...which should translate to a nervous
stock market. Well, it's not that straight forward and we won't even bother 
to expound on the fact that the last budget that was balanced by the US 
government was in 1955! And we'll leave that and the state of the US dollar 
for the folks on television to argue and shout about....until the anchor 
hears only noise and calls for time. Thank God, we have commercials! 

	Coffee truly wakes one's system. Last week it was not the bean that
did the job - capacity utilization peaked out at a whopping 84.7%, the 
highest since April 1989. The bond markets were walloped and yields
rose to 7.7% on the 2023 long issue. We expect the bond markets to remain
weak and expect the yield to cross the 7.80% level. We would keep a very 
close watch on the action of December T-Bonds this coming week. The
Lehman Brothers T-bond Index (LBTX, 1199) got killed on Friday, dropping by
over 8.21 points. We're likely to see another new low in this index.

	The Dow Industrials (DJIA, 3933.35) closed the week with a 58.94 point
gain. It is positioned at a precarious area, just shy of its all-time high.
On a technical basis, our indicators call for a sell-off to around the 
3850 level. The Transports (DJTI, 1566.33) were down slightly over 10 points
on Friday. The index continues to look weak and we should likely move lower
and find some support at around the 1546 region. The Dow Jones Utilities
Index (DJUI, 177.23) broke through weak support at around the 181 level and
looks very vulnerable. We're likely see a break down from current levels and
should see a new low.

	The SP-500 (SPX, 471.19) sits precariously at what we believe, is a
weak area of support - in terms of market psychology, momentum, and money
flow. We still maintain the key levels of 472 and 475 on the upside, and 
468, 465, and 462 on the downside where the dynamics of money flow will
be very important. As we've been writing all along, we still believe that
475 and 482 are the two key levels the index would have to break on the 
upside (with good breadth) for some semblance of upside health to show. 
Expect the S&P to move lower in the near future - a retest of the 465 level
is very likely. The S&P-100 (OEX, 438.21) also look weak. We expect the index 
to move lower to the 434 level.

	The NASDAQ Composites (NASD, 777.91) seem to have held surprisingly
well, largely due to the strength in technology stocks last week. We're
inclined to believe that earnings by individual companies will dictate the
move in this and other indices in the very near future, likely down. 

	Foreign markets also seem weak. The French CAC-40 (CAC, 1924.50) seems
heady (wine, anyone!?) and is on the verge of breaking down and re-testing the
low of the 1868 region. In Frankfurt (DAX-40, 2097.400), we'll likely see a
break of support at around the 2090 level and a move downwards. In London,
the FTSE (FTSE-30, 238.89) is being really footed around and sits precariously
at support. We're expecting this to take a knock, too. 

	Our models re-iterate the bullish stance on the Precious Metals
XAU (122.36). Initial projections call for a move up to the 127 level on the
index and a very likely upward move in the metal. In groups, we favor
networking issues (highly dependent on market movements, 3Com's earnings 
and novelty of product releases in the net expo in Dallas), brokerage 
stocks, and regional banks.

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

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

	See last issue for recent changes in the asset allocation plan.
Funds of interest under our current asset allocation plan are:

	US Equities (Growth)     5% (e.g., Invesco Dynamics)
	US Equities (Value)     15% (e.g., Fidelity Value)
	US Govt. Bonds           5% (e.g., TRowe Price US Long Term
	International Equities  13% (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          6% (e.g., Invesco Gold)
	High-Yield Bonds        14% (e.g., Fidelity Capital Income)
	Real Estate              8% (e.g., Columbia Real Estate Fund)
	Cash                    14% (money market funds)

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

	We've had very mixed results on option signals, largely due to the 
volatility of the markets last week. Our models liquated a lot of options
because of excessive volatility, but were right on the mark in terms of
predicting the volatility of money flow.

	We've had good results with Mark IV Industries (IV, $22 7/8) - it 
continues to look strong on a technical basis for the intermediate term but we
do expect to see some downside movement and a retest of support at around the
$21 7/8 level. Our models continue to like Potash (POT, $36 3/4) and American 
Express (AXP, $30 1/4) - both of these stocks seem poised to move up into 
higher territory. The position in American Power Conversion (APCC, $20) also 
looks positive. 

	On new positions (all long), we like Hecla Mining (HL, $11 3/4),
Williams Sonoma (WSGC, $45 1/2), Lam Research (LRCX, $40 1/2), and Cisco
Systems (CSCO, $26 1/2).  Hecla seems to be technically poised to make a move 
up to the $13 level, from where it should encounter a band of tough 
resistance. Williams Sonoma (WSGC, $45 1/2) is a momentum play. Cisco Systems
should move well, too...we see potential breakout action on this one. 

	An important note: We remain very wary of the action in the markets.
Dynamics may over rule all individual stock/option positions. 

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

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

Additions	   	   : WSGC, CSCO, HL, LRCX (Long)
                   
Deletions	   	   : IGT (Trade entry not generated)

SELL Alerts on Portfolio   : 

Entered into Portfolio     : IV, POT, WHR, WMT
                    
*===========================================================================*
 Likely    Security        Profile          Technical Comments
 Position  & Ticker        & Date               & Alerts
*===========================================================================*

LONG      Williams Sonoma  $45              Crossing above $45 1/4
          WSGC             9/16/94          SELL STOP at $43 7/8
----------------------------------------------------------------------------
LONG      Hecla Mining     $11 3/4          Crossing above $12 1/8
          HL               9/16/94          SELL STOP at $11 1/8
----------------------------------------------------------------------------
LONG      Cisco Systems    $26 1/2          Crossing above $26 11/16
          CSCO             9/16/94          SELL STOP at $25 7/8
----------------------------------------------------------------------------
LONG      Lam Research     $40 1/2          Crossing above $40 7/8
          LRCX             9/16/94          SELL STOP at $39 1/2
----------------------------------------------------------------------------
LONG      Wrigley          $41 1/2          Crossing $41 3/4
          WWY              9/10/94          SELL STOP at $40 3/4
----------------------------------------------------------------------------
LONG      Tribune Co.      $55 1/4          Crossing $55 7/8
          TRB              9/10/94          SELL STOP at $54 1/2
----------------------------------------------------------------------------
SHORT     TRW Inc.         $72 5/8          Crossing $72 1/8
          TRW              9/10/94          BUY STOP at $73 1/2
----------------------------------------------------------------------------
SHORT     Winn Dixie       $51 1/4          Crossing $49 7/8
          WIN              9/10/94          BUY STOP at $52
----------------------------------------------------------------------------
LONG      Centrl Coop Bnk  $17 3/4          Crossing above $18 1/8
          CEBK             9/5/94           SELL STOP at $17 1/4
----------------------------------------------------------------------------
LONG      Cyprus Minerals  $32              Crossing $32 1/2
          CYM              9/5/94           SELL STOP at $30 7/8
----------------------------------------------------------------------------

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

	Listed below are options that we feel offer, or continue to offer a 
potential for substantial profit. However, since conditions may change
rapidly the trade scenario contained below may quickly become outdated and
the stance of our models may be modified. All option positions that are 
to be opened, or are open need to be tracked carefully. It would be very 
difficult to have exact entry/exit points on new options that are featured.
This table is meant to alert you to potential situations in the options
markets. Most important, options may not be suitable for all investors. 
We usually favor those options termed as "Attractive".

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

LONG       American Xprs Jan 35 C  $1 3/6           Attractive!
           AXPAG                   9/16/94
--------------------------------------------------------------------------
LONG       Hecla Mng Dec 12 1/2C   $13/16           Attractive!
           HLLV                    9/16/94
--------------------------------------------------------------------------
LONG       Oracle Oct 45 C         $2 1/16         
           ORQJI                   9/16/94
--------------------------------------------------------------------------

/-------------------------------\
 CURRENT/PAST OPTION PERFORMANCE
\-------------------------------/
                 
*========================================================================*
 Option        Ticker    Signal Price    Curr/Sell Price      %Change
 Series                  Date                Status 
*========================================================================*

 McKesson       MCKJA    $1 1/2           $1 1/4               -16.67%
 Oct 105 Calls           9/5/94           *OPEN*
--------------------------------------------------------------------------
 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
-------------------------------------------------------------------------
 
/----------------\
 EQUITY PORTFOLIO                                   
\----------------/
                                                                
	Following are the stocks that are in the model portfolio. They were
all added after they were profiled, and after technical conditions listed in
the STOCK ALERTS section were fulfilled. Trade entries/exits are all made
on the Monday following the profile.                              

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

Mark IV Indus     $21 1/2       $22 7/8     +6.4%         Sell Stop at $21 7/8
IV                9/12/94
----------------------------------------------------------------------------
Potash            $36 1/4       $36 3/4     +1.34%        Sell Stop at $34
POT               9/12/94
----------------------------------------------------------------------------
Whirlpool         (S) $53 3/4   $53 7/8     -0.23%        Buy Stop at $54 7/8
WHR               9/12/94
----------------------------------------------------------------------------
Walmart           $25 1/8       $24 7/8     -0.96         Sell Stop at $23 3/8
WMT               9/12/94
----------------------------------------------------------------------------
Cracker Barrel    (S) $24 1/2   $23 3/4     -3.06%        Buy Stop $24 1/2
CBRL              9/6/94                    
----------------------------------------------------------------------------
Caesars World     $45 7/8       $46 1/8     +0.55%        Sell Stop $46
CAW               9/5/94
----------------------------------------------------------------------------
American Xpress   $29 1/4       $30 3/4     +5.13%        Sell Stop $29 5/8
AXP               9/6/94
----------------------------------------------------------------------------
International Ppr L $74 5/8     $76 1/2     +2.68%        Sell Stop $73 7/8
IP                8/28/94 
---------------------------------------------------------------------------- 
Deere & Co        L $65 7/8     $72 5/8     +10.25%       Sell Stop $70 1/2
DE                8/18/94
----------------------------------------------------------------------------
Mirage Resorts    L $18 1/8     $22         +21.37%       Sell Stop $19 7/8
MIR               7/30/94       
----------------------------------------------------------------------------
US Surgical       L $23 7/8     $26 1/8     +9.46%        Sell Stop $25
USS               8/14/94
----------------------------------------------------------------------------
American Power    L $17 1/4     $20         +15.94%       Sell Stop $17 1/2
Conversion        8/14/94
APCC
----------------------------------------------------------------------------
Cabletron Sys     L $35         $47 1/4     +35.0%        Split 2.5 
CS                6/17/94                                 Looks Good
----------------------------------------------------------------------------
Spectrum Signal   L $5          $5 7/8      +17.3%        Great Play!
Processing       '93 to 3/94 
SSPIF  
----------------------------------------------------------------------------
India Inv Fund    L $15         $15 1/8     +0.83%        Great Play!
Fund (Morgan St)  2/94 
----------------------------------------------------------------------------
Colossal          L $1.50Cdn    $1.85Cdn    +23.33%       Hold!
Resources         7/93 - 1/94
CLP.V
----------------------------------------------------------------------------
                                            
/------------------------------\
 PAST EQUITY SIGNAL PERFORMANCE                                  
\------------------------------/

	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
and closed out after sell conditions were triggered. Entries and Exits are
all based on closing prices of the Monday following the signal.

============================================================================
Security          Ticker      Entry Price    Trade    Curr/Sold   %Change   
Name &  Ticker                and Date       Status   Price
============================================================================
Dell Computer      DELL       S $32 1/2       Closed   $34 1/2    -6.15%
                              8/29/94         9/15/94
----------------------------------------------------------------------------
Silicon Grph       SGI        L $21 1/2       Closed   $25 1/8    +17.0%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Ivax Corp.         IVX        L $17 5/8       Closed   $20 1/4    +15%
			      8/7/94          9/6/94
----------------------------------------------------------------------------
Lotus Devp         LOTS       L $32 1/2       Closed   $42 1/8    +30%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Chiron             CHIR       L $53 3/4       Closed   $69 3/4    +29.77%
                              7/30/94         9/6/94
----------------------------------------------------------------------------
Welfleet           WFLT       L $20 1/8       Closed   $22 3/4    +13.07%
Communications                8/16/94         9/6/94
----------------------------------------------------------------------------
Becton Dickenson   BDX        L $42 1/8       Closed   $43 3/4    +3.87%
                              7/30/94         9/1/94
----------------------------------------------------------------------------
NL Industries      NL         S $11 3/4       Closed   $9 3/4     +20.51%
                              7/22/94         8/31/94
----------------------------------------------------------------------------
Newbridge          NNCXF      L $34 5/8       Closed   $32        -7.59%
Networks                      6/17/94         8/31/94
----------------------------------------------------------------------------
Sterling Chem      STX        L $9 1/2        Closed   $11 1/8    +13.16%
                              8/7/94          8/31/94  
----------------------------------------------------------------------------
Mercer Intl        MERCS      L $12 1/4       Closed   $11 3/8    -7.1 %
                              8/14 -          8/19/94
----------------------------------------------------------------------------
Atlantic Rchfld    ARC        L $106 5/8      Closed   $104 3/8   -2.0 %
                              7/30/94         8/19/94
----------------------------------------------------------------------------
Mercer Intl        MERCS      L $7 7/8        Closed   $9 3/8     +19.19%
                              4/14/94         6/21/94
----------------------------------------------------------------------------
Helionetics        ZAP        L $3 7/16       Closed   $3 1/4     -5.52%
                              6/21/94
----------------------------------------------------------------------------
Solar              SL.V       L $1.23Cdn      Closed   $2.90      +135.77%
Pharmaceuticals               8/93-9/93       4/25/94
----------------------------------------------------------------------------
Newbridge          NNCXF      L $47 3/4       Closed   $53        +10%
Networks                      4/26/94         5/5/94
----------------------------------------------------------------------------
Telefonos de       TMX        L $49           Closed   $74 1/8    +51.27%
Mexico                        11/09/93        2/16/94
----------------------------------------------------------------------------
Interdigital       IDC        L $3 1/2        Closed   $5 1/8     +46.29%
                              4/21/94         4/29/94
----------------------------------------------------------------------------
Motorola           MOT        L $86 1/4       Closed   $107       +24.06%
                              12/20/93        3/15/94
----------------------------------------------------------------------------
Telefonos de       TMX        S $73 3/8       Closed   $59.0      +24.36%
Mexico                        2/10/94         4/25/94
----------------------------------------------------------------------------
Adobe Systems      ADBE       S 33 1/2        Closed   $26 1/4    +21.64%
                              3/14/94         4/5/94
----------------------------------------------------------------------------
Gupta Corp         GPTA       S $30 1/4       Closed   $25 3/4    +14.88%
                              3/3/94          4/4/94
----------------------------------------------------------------------------
Casino &           CACS       L $7 3/4        Closed   $8 5/8     +11.87%
Credit Services               12/13/93        3/28/94
----------------------------------------------------------------------------
Zoom Telephonics   ZOOM       L $10 1/2       Closed   $11 3/4    + 11.9%
                              12/13/93        4/26/94 
----------------------------------------------------------------------------
BioPharmaceutics   BPH        L $1 15/16      Closed   $1 5/8     -13.92%
                              10/14/93        4/4/94
----------------------------------------------------------------------------
Synoptics         SNPX        L $25           Closed   $21 3/8    -14.52%
Communications                12/08/93        3/25/94
----------------------------------------------------------------------------

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

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