The world's financial markets turned in a generally lackluster week. Global 
      bourses meandered aimlessly, and most U.S. stock indices showed slight 
      declines. But there were a few bright spots. The Dow Jones industrial average 
      closed on July 21 at 3555, an all-time high. And the put-call ratio of 
      speculative sentiment, an often reliable gauge of short-term sentiment, became 
      strongly bullish. The bond market turned lower, however, as traders reacted to 
      downbeat comments by Fed Chairman Alan Greenspan.
      
      MARKET ANALYSIS
                                                             % change
      U.S. STOCKS                                  Latest   Week   52-week
      DOW JONES INDUSTRIALS                        3555.4   0.4   8.5
      MIDSIZE COMPANIES (S&P MidCap Index)          164.9   -1.7   16.3
      SMALL COMPANIES (Russell 2000)                234.9   -1.2   24.3
      ALL COMPANIES (Russell 3000)                  257.4   -0.8   11.4
      
                                                        % change (local currency)
      FOREIGN STOCKS                               Latest   Week   52-week
      LONDON (FINANCIAL TIMES 100)                 2814.1   -0.6   17.8
      TOKYO (NIKKEI INDEX)                       20,080.9   -0.3   29.2
      TORONTO (TSE COMPOSITE)                      3867.4   -1.9   13.3
      
      FUNDAMENTALS                                 Latest Week ago Year ago
      90-DAY TREASURY BILL YIELD                    3.14%  3.06%   3.23%  
      30-YEAR TREASURY BOND YIELD                   6.63%  6.56%   7.63% 
      S&P 500 DIVIDEND YIELD                        2.80%  2.84%   3.04%   
      S&P 500 PRICE/EARNINGS RATIO                   21.2   21.3    23.4      
      
      TECHNICAL INDICATORS                          Latest Week ago Reading
      S&P 500 26-week moving average                445.6  445.1   Positive   
      Stocks above 26-week moving average           56.8%  58.8%   Negative   
      Speculative sentiment: Put/call ratio          0.53   0.42   Positive   
      Insider sentiment: Vickers sell/buy ratio      2.30   2.32   Neutral   
      BRIDGE INFORMATION SYSTEMS INC.
      
      INDUSTRY GROUPS
      
                              % change      Strongest       % change
      FOUR-WEEK LEADERS   4-week   52-week  stock in group   4-week   52-week   Price
      HOSPITAL MANAGEMENT   17.6   5.9      NATIONAL MEDICAL 
                                            ENTERPRISES       20.0     -26.2   11 1/4
      TRANSPORTATION 
      SERVICES              13.1   27.1     FEDERAL EXPRESS   19.1      25.7   53 7/8
      TRUCKING              12.5   2.3      ROADWAY SERVICES  15.1       6.6   61   
      PERSONAL LOANS        11.0   34.2     HOUSEHOLD INTER-
                                            NATIONAL          11.5      44.0   75 1/4
      HOTELS AND MOTELS      8.5   78.4     PROMUS            23.6      283.9  53 3/4
      
                              % change      Weakest              % change
      FOUR-WEEK LAGGARDS   4-week   52-week stock in group   4-week   52-week   Price
      COMMUNICATIONS 
      EQUIPMENT            -21.5   -6.1     NORTHERN TELECOM -33.3      -37.0  24 1/2
      APPAREL MANUFACTURING-15.8  -20.1     LIZ CLAIBORNE    -29.6      -39.1  22   
      COMPUTER SYSTEMS     -12.1  -42.6     APPLE COMPUTER   -32.2      -40.3  26 7/8
      ENTERTAINMENT        -11.2   4.3      WALT DISNEY      -14.1        2.1  36 5/8
      POLLUTION CONTROL    -10.9   -7.2     WMX TECHNOLOGIES -14.1      -12.2  30 1/2
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      
      LEADERS                                 LAGGARDS
      Four-week total return            %     Four-week total return          %
      LEXINGTON STRATEGIC 
      INVESTMENTS                      22.3   EQUITY STRATEGIES            -11.9
      EXCEL MIDAS GOLD SHARES          19.6   FIDELITY SELECT ENERGY        -5.4
      SHERMAN, DEAN                    16.7   PUTNAM ENERGY-RESOURCES       -4.8
      
      52-week total return               %    52-week total return             %
      LEXINGTON STRATEGIC INVESTMENTS  90.9   DFA CONTINENTAL SMALL COMPANY -16.2
      PBHG GROWTH                      77.4   FIDELITY SELECT HEALTH CARE   -15.7
      EXCEL MIDAS GOLD SHARES          62.8   INVESCO STRATEGIC HEALTH 
                                              SCIENCES                      -14.8
      
      RELATIVE PORTFOLIOS
      
         Foreign stocks   Treasury bonds   U.S. stocks   Gold   Money market fund
            $13,268           $12,276        $11,041    $10,959     $10,232
             +0.13%            +0.87%         -0.17%     -0.09%     +0.05%
      
      Dollar amounts
      represent the present value of $10,000
      invested one year ago in each portfolio
      Percentages indicate
      five-day total returns
      All data on this page are as of market close Wednesday, July 21, 1993, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close July 20. Mutual fund 
      returns are as of July 16. Relative portfolios are valued as of July 20. A more 
      detailed explanation of this page is available on request.
      
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