				Ken Deen's
			 THE AGGRESSIVE TRADER(tm)
	    "Seeking double-digit profits in one to four months"

			      BUY/SELL ALERT
                                                               P.O. Box 4791
Vol. 1, No. 96                                       Santa Barbara, CA 93140
October 20, 1992                                              (805) 565-2039
10:00am EDT                                           CompuServe: 72020,2050


   Stock+Options Account (editor's personal account):
      * Today I sold 150 Russ Berrie & Co. (RUS) at 29 1/2.  I bought these
        shares on July 29 at 28 1/2 (see Vol.1 #71).

   Stock-Only Account (editor's personal account):  No trades

   DESI(tm) Account (a computer-simulated hypothetical account):  No trades

   DESI(tm) Buy/Sell Signals:
      * Buy Justin Industries Inc. (JSTN, $31.50)
      * Buy Centex Corp. (CTX, $29.13)

   Other Trading Ideas:
      * Buy Nam Tai Electronics Inc. (NTAIF, $14.13)


Russ Berrie & Co.

   This stock has been a sleeper since I bought it in July.  I've been sitting
on a paper loss most of the time since then.  It has been a disappointing
performer.  I do still think it will perform well over the next three months.
However, it is not a DESI(tm) stock, and my strategy now is to focus my funds
on DESI(tm) stocks.  Also, on a very short-term basis, we may be seeing a peak
right around $29 to $30.
   In the past week I have invested about $25,000 in two DESI(tm) stocks
(TST and JSTN).  I expect other strong DESI(tm) stocks to reveal themselves
over the next four weeks as third quarter earnings continue pouring in.  The
main reason I am selling, then, is to raise cash (or, rather, to reduce my
margin) in preparation for more buying.


Justin Industries Inc. and Centex Corp.

   These are both DESI(tm) buys.  The buy signal is today.  Today's high price
will become the buy price for the purposes of tracking the DESI(tm) System.
   Yesterday, I bought heavily into Justin Industries.  This remains a strong
buy today.  See Vol.1 #95 for a discussion of Justin.
   Centex is also a DESI(tm) buy.  I will track it in my monthly reports as I
have been tracking all DESI(tm) signals; however, I do not particularly like
it.  Remember, DESI(tm) buy signals are generated by a computer program.
It is rare that I disagree with my computer program, but it does happen.  Such
is the case with Centex. The are two reasons I don't particularly like Centex.
The latest earnings report was very good, but the three quarters prior to that
exhibited little to no sales growth (from -3% to +2%).  Also, the group
is in the bottom 2% of all groups in terms of relative strength, according to
Long-Term Values.  This means that Centex's group, "Building - Residential/
Commercial" has been seriously underperforming the market.  These factors are
ignored by the DESI(tm) System.


Nam Tai Electronics Inc.

   The story here is a technical buy signal yesterday (Monday) combined with
explosive earnings and sales growth and a very low P/E.
   Yesterday, the stock closed at 14 1/8, up 2 3/8 (or 20%!) on more than
eleven times average trading volume.  This was a new all-time for the stock,
the first all-time high since January.  As such, it represents a breakout
from a nine-month base, a technical buy signal.
   Investors are jockeying for position in advance of the next earnings report,
due Oct. 31.  The past four quarters show very strong sales and earnings
growth:

	Quarter
	Ended       Sales($mil)        Earnings-per-share
	-----    -----------------     ------------------
	Jun 30   14.3 vs  8.4 +71%     .36 vs  .01 +3500%
	Mar 31   11.9 vs  6.9 +72%     .10 vs  .01  +900%
	Dec 31   12.1 vs  9.5 +27%     .42 vs -.04   n/a
	Sep 30   11.0 vs 10.2  +8%     .34 vs  .05  +580%

   At 12 times trailing earnings, the stock is still a bargain.  A lot depends
on this upcoming earnings report, but I rate this a buy on the strength of
recent growth and Monday's technical breakout.
   The stock is in the top 1% of all companies in terms of earnings-per-share
growth, and the top 2% in terms of relative strength, according to today's
Investor's Business Daily.  The stock is in the "Office Equipment & Supplies"
group.  This group has been outperforming the market recently.  The group
relative strength has improved from 37 on Sept. 4 to 67 on Oct. 9, according
to Long-Term Values.
   Nam Tai, headquartered in Hong Kong, manufactures calculators, databanks,
electronic scales, and health care products.

      <Printed version contains stock chart here.>
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   This issue of The Aggressive Trader(tm) may be copied and distributed
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   The Aggressive Trader is edited and published at irregular intervals, but
at least monthly, by Kenneth L. Deen ("Ken Deen"),  P.O. Box 4791, Santa
Barbara, California 93140, (805) 565-2039.
   Ken Deen, his employees, affiliates, and/or clients may have positions in
securities recommended herein and may make additional purchases and/or sales
in these securities.  
   Recommendations made in this publication involve a high degree of risk and
may result in losses.  Readers should not assume that recommendations will be
profitable or will equal past performance.  The information in this
publication is collected from sources believed to be reliable, but neither the
accuracy nor the completeness of this information is guaranteed.  
   The Aggressive Trader, Deen Earnings Surprise Index, DESI, and DESI-3 are
all trademarks of Kenneth L. Deen.
   Copyright (c) 1992 Kenneth L. Deen. 
			      -END-
