   Profit-taking in cyclical issues carried the Dow Jones industrial average
down 7.27 Friday to close at 3680.59.  Breadth was positive, with advances
leading declines, 1199-808, on the New York Stock Exchange in adjusted volume
of 266,568,260 shares.
   The NASDAQ composite index ws up 5.77 to 779.26.  Advances led declines on
NASDAQ, 1874-1187, in volume of 303,633,717 shares.
   The Wilshire 5000 rose $12.227 billion to $4,672.771 billion.
   Auto stocks and forestry issues were among the losers Friday.  Georgia-
Pacific was down 2 1/4 to 64 1/4, Weyerhaeuser fell 1 3/8 to 39 5/8 and
International Paper fell 2 1/4 to 59 1/2. The latter accounted for almost
all of the Dow's loss Friday.
   Among the Big Three, GM was down 1 3/8 to 47 5/8, Chrysler was down 1 1/4
to 55 7/8 and Ford fell a point to 61 7/8.
   Tick  moved to an overbought +827 at the close.  Tim Ord, editor of the Ord
Oracle telephone hotline (17300 Van Dorn, Walton,  NE  68461)  said  that  the
extreme  tick  would  have been a sell signal if it occurred intraday, but may
not be as significant coming at the close.
   "Short-term, most people are convinced that a top is here, so I'm not," Ord
said. He  noted   excessive   buying of   put   options   Friday    on     the
S&P  100. "But the intermediate-term picture is not so hot," Ord added, noting
poor action in  the  McClellan  oscillator  and  Summation  Index,  which  are
measures of market breadth.
   The Dow open, theoretical intraday and low: 3686.74; 3712.45; 3656.84.
   Kendall Square Research lost about one-third of its market value, falling
7 7/8 to 16 3/8.  It said third-quarter revenue will be substantially below
analyst  expectations, and it will post a loss in the quarter.  The disclosure
comes less than three months after  Kendall  Square  executives  had  endorsed
analysts estimates forecasting a profit of 45-50 cents a share this year.
   Aetna  was  up  2  7/8 to 65 3/4. Citing lower weather-related costs, Aetna
said third-quarter net jumped to $2.03 a share  from  $1.59  a  share  in  the
year-ago quarter, despite about $100 million less in revenue.
   Among other insurance stocks, Chubb was up 1/2 to 82 1/8 and Conseco was up
3/8 to 63 1/2, but Transamerica fell a point to 57.
   Crude oil futures were lower on rumors that Saudi Arabia was displeased
by other OPEC members exceeding production quotas, and may retaliate.  Among
oil stocks, Atlantic Richfield was down 1 1/2 to 110 1/4 and Halliburton fell
1 1/4 to 31 7/8.
