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

			       STATUS REPORT

                                                           1339 Virginia Rd.
Vol. 1, No. 85                                           Montecito, CA 93108
September 14, 1992                                            (805) 565-2039
                                                      CompuServe: 72020,2050


August 1992:  Overview

   August was an uneventful month for my Model Portfolio (up 0.6% - see Table
3), a very disappointing month for the volatile Stock+Options Account (down
11.0% - see Table 5), and a great month for the DESI Trading System(tm).
   It was a tough month for the market in general.  The NASDAQ Composite fell
3.0%, and the S&P 500 fell 2.4%.  Next month, I hope to include graphs showing
the complete performance history of my Model Portfolio/Stock-Only Account, my
Stock+Options Account, and the DESI Trading System.
   DESI(tm) stocks have been outperforming my other stock picks, on average,
for some time.  This has never been more dramatically clear than now.  I have
some big winners right now, and they are all DESI stocks.  In fact, my DESI
stocks are emerging as leaders in the current bull market.  I also have some
losers, and none of them are DESI stocks.  This suggests that my computerized
system is often better at picking stocks than I am!
   My plan for the future, then, is to focus more heavily on DESI trades with
my own money.  I will still publish buy alerts for non-DESI stocks I recommend 
(as I did last Sunday, when I recommended IFMX, WFLT, and ERTS), but with my
own money I am waiting for the next DESI buy signal.


A New Bull Market in Growth Stocks

   The growth-stock-led bull market I have been predicting in recent weeks is
here.  Today, Monday Sept. 14, the NASDAQ Composite surged 1.9% to its highest
level in five months as an upward trend dating from late June gathered
momentum.  Volume was a very heavy 221 million shares, the heaviest trading
day since April.  This is the most bullish market scenario I have seen since
December 1991.
   I expect a resumption of Monday's explosive rally before the end of the
month.  This bull market should last at least through December, regardless of
who wins the election.
   The reversal of monetary policy in Germany on Monday put an end to the
dollar crisis, which had been a major source of uncertainty for the market.


The DESI Trading System(tm) -- Trades That Count

   The DESI Trading System, described in detail in last month's Status Report,
is doing spectacularly well.  Table 1 tells part of the story: three completed
trades and three stocks still held.
   Let's look first at the three completed trades.  Ben & Jerry's was up 38.9%,
Ohio Art was up 6.0%, and Lannet Data Comm was down 20.8%.  Details, including
stock charts, are on page 2.  The average of all three trades is a gain of
8.0%.  8% in three months is 36% on an annualized basis.
   An interesting footnote on LANTF, the sole loser:  On July 30, prior to the
sell date, the low for the day was 31, a 9.7% gain over the buy price.  Then
the company released a surprisingly weak earnings report and the stock sold
off sharply.  Such an earnings disappointment on a DESI stock is atypical.
DESI(tm) stocks tend to have earnings momentum, and one positive surprise
tends to be followed by another.
   Now let's look at the three stocks still held by the DESI system.  I also
own these stocks, having purchased them on the dates of the DESI buy signals.
These three stocks, United Wisconsin Services (UWSI), PacifiCare Health
Systems (PHSYA), and Nature's Bounty (NBTY), are emerging as leaders in the
current bull market.  I purchased PHSYA and UWSI on July 31, and NBTY on
August 3.  Table 1 shows the status of these stocks on Aug. 31, and they were
doing very well as of that date.
   But the big news has been breaking in September.  As I write this on Sept.
14, some six weeks after buying, I am up 35.4% on UWSI, up 11.8% on PHSYA, and
up a whopping 52.5% on NBTY.  With spectacular results like these, it is
clear why I plan on focusing most of my future personal trading on this very
promising computerized system!


Goodbye Model Portfolio; Hello Stock-Only Account

   With the sale of Cabletron Systems stock on August 6, the hypothetical
Model Portfolio contains exactly the same stocks, in exactly the same
quantity, as my personal Stock-Only Account which is registered in the Stock
Division of the US Investing Championship.  The only difference between the
Model Portfolio and my Stock-Only Account, then, is the amount of cash.
   As of August 31, I have retired the Model Portfolio and replaced it with
my personal Stock-Only Account.  Table 3 gives the final, closing, August 31
status of the Model Portfolio, and also the initial status of the Stock-Only
Account.


Table 1.  DESI Trading System(tm) Stocks -- Trades That Count**

                              DESI-buy*   DESI-sell*  Aug31 Gain/
Symbol      Company Name      Date  High  Date  Low   Close Loss

OAR   Ohio Art Co.             4/28 50.00  8/13 53.00         +6.0%
LANTF Lannet Data Comm. Ltd.    5/8 28.25  8/12 22.38        -20.8%
BJICA Ben & Jerry's Homemade   5/11 22.50  8/17 31.25        +38.9%
PHSYA PacifiCare Health Sys.   7/31 35.50     ***     34.25   -3.5%
UWSI  United Wisconsin Svcs    7/31 39.50     ***     45.75  +15.8%
NBTY  Nature's Bounty Inc.      8/3 20.00     ***     21.25   +6.3%

Statistics (completed trades only):
Number of winners . . . . .      2
Number of losers. . . . . .      1
Percentage of winners . . .     67%
Best trade. . . . . . . . .  +38.9%
Average winning trade . . .  +22.4%
Worst trade . . . . . . . .  -20.8%
Average losing trade. . . .  -20.8%
Overall Average . . . . . .   +8.0%

*   Stocks are assumed to be bought at the day's high and sold at the day's
    low.  This more than accounts for the bid/ask spread and slippage.
**  'Trades That Count' refers to trades which were not used in the design of
    the System.
*** These stocks are currently held by the System.


Table 2.  Model Portfolio Transaction Log

      Sym-                   B/  #                     Pro-     Cash
 Date bol  Company Name      S  Shrs  Price   Cost**  ceeds** Balance

From previous month . . . . . . . . . . . . . . . . . . . . .  $5,225
  8/6 CS   Cabletron Systems S   165  54.13*          $8,886  $14,111
 8/18 IFMX Informix Corp.    S   200  38.00*          $7,562  $21,673

Model Portfolio: Final cash balance . . . . . . . . . . . . . $21,673

* In cases where I actually bought or sold a model portfolio stock, I
  have shown my transaction price and marked the price with an
  asterisk.  In cases where I did not trade the stock, the day's
  closing price is shown.  This applies to Tables 2 and 3.
** Includes transaction cost of 0.5%


Table 3.  Model Portfolio Status

Sym-                    Purch  # Purch    Orig   Aug31   Aug31     Gain/Loss
bol   Company Name      Date ShrsPrice   Cost**  Price   Value      $$     %

CLCDF Clearly Canadian  5/12 500 18.00*  $9,045  14.50   $7,250  ($1,795)-19.8%
CFFS  Columbia 1st Bank 7/15 350 14.75*  $5,188  14.00   $4,900    ($288) -5.6%
PHSYA PacifiCare Health 7/31 140 35.00*  $4,925  34.25   $4,795    ($130) -2.6%
UWSI  United Wisconsin  7/31 190 36.75*  $7,017  45.75   $8,693   $1,675 +23.9%

Total value of stocks held . . . . . . .$26,175         $25,638    ($538) -2.1%
End-of-month cash balance. . . . . . . . . . . . . . .  $21,673
One-month portfolio gain. . . . . . . . $47,028         $47,311     $283  +0.6%
Year-to-date portfolio gain . . . . . . $50,000         $47,311  ($2,689) -5.4%

Introducing the Stock-Only Account***:

Initial cash balance August 31 1992 . . . . . . . . . . . . . .   $7,954
Value of stocks held Aug 31 (same as Model Portfolio) . . . . .  $25,638
Initial account value August 31 1992. . . . . . . . . . . . . .  $33,592

*   See footnote, Table 2.
**  Includes transaction cost of 0.5%
*** This is an actual, personal account of the editor.


Table 4.  Stock+Option Account* Transaction Log

       Sym-                       B/  #                  Pro-      Cash
 Date  bol  Company Name          S Shrs Price    Cost   ceeds   Balance

Long Transactions and Covered Shorts:
Cash balance from last month (excl. cash from open shorts). . .  ($9,726)
 7/17 USS   US Surgical           S 100  98.00           $9,772      $46
  8/3 USS   US Surgical           B 100  91.25  $9,153           ($9,107)
  8/3 NBTY  Nature's Bounty Inc.  B 200  20.00  $4,029          ($13,136)
  8/6 CS    Cabletron Systems     S 110  54.13           $5,925  ($7,211)
  8/7 MDB   Professional Bancorp  S 400  10.13           $4,013  ($3,198)
 8/12 UWSI  United Wisconsin Svcs B 100  42.00  $4,227           ($7,425)
            Net interest charges                   $20           ($7,445)
 8/25 CSFCB CSF Holdings Inc.     S 250  29.50           $7,345    ($100)

End-of-month cash balance (excl. cash from open shorts). . . . . ($7,445)

Open Short Positions:
 - None -

* This is an actual, personal account of the editor.


Table 5.  Stock+Options Account* Status

Sym-                        Orig  #   Orig    Orig   Aug31 Aug31    Gain/Loss
bol   Company Name          Date Shrs Price   Cost   Price Value    $$      %

Long Positions:
CSFCB CSF Holdings Inc.      6/9  250 22.00  $5,529 27.25 $6,813  $1,284 +23.2%
CCR   Countrywide Credit     7/6  150 25.92  $3,916 26.13 $3,919      $3  +0.1%
ARW   Arrow Electronics     7/17  300 21.50  $6,484 20.75 $6,225   ($259) -4.0%
RUS   Russ Berrie & Co.     7/29  150 28.50  $4,305 25.38 $3,806   ($498)-11.6%
C     Chrysler Corp.        7/29  200 22.00  $4,431 19.75 $3,950   ($481)-10.9%
NBTY  Nature's Bounty Inc.   8/3  200 20.00  $4,029 21.25 $4,250    $221  +5.5%
UWSI  United Wisconsin Svcs 8/12  100 42.00  $4,227 45.75 $4,575    $348  +8.2%

Total value of long positions held. . . . . . . . . . .  $33,538
End-of-month cash balance, excl. cash from open shorts.  ($7,445)
Portfolio value, long portion . . . . . . . . . . . . .  $26,092

Short Positions:
 - None -

Account Summary:
Total portfolio value (long portion+net gain on shorts)  $26,092
One-month portfolio gain. . . . . . . . . . $29,310      $26,092 ($3,217)-11.0%
Portfolio gain since inception (3/31/92). . $33,001      $26,092 ($6,909)-20.9%

* This is an actual, personal account of the editor.
----------------------------------------------------------------------------
   The Aggressive Trader(tm) is edited and published at irregular intervals,
but at least monthly, by Kenneth L. Deen ("Ken Deen"), 1339 Virginia Road,
Montecito, California 93108, (805) 505-2039, and is distributed free of charge
to all interested parties.  Ken Deen reserves the right to begin charging a
subscription fee at any time.
   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.  Ken Deen frequently reveals in this publication the
holdings, trading activity, and performance of certain of his personal
brokerage accounts.  However, he reserves the right to discontinue this
practice at any time without notice.
   Recommendations made in this publication involve risk and may result in
losses.  Readers should not assume that recommendations will be profitable or
will equal past performance.  Neither The Aggressive Trader(tm) nor Ken Deen
shall be liable in any manner for losses of any kind.  The information in this
publication is collected from sources believed to be reliable, but neither the
accuracy nor the completeness of this information can be guaranteed in any
way.  Reporduction in whole or in part without the express written consent of
the editor is strictly prohibited.
   The Aggressive Trader, Deen Earnings Surprise Index, DESI, DESI-3, and DESI
Trading System are all trademarks of Kenneth L. Deen.
   Copyright (c) 1992 Kenneth L. Deen.
			      -END-
