Ken Deen's
			   THE AGGRESSIVE TRADER
			      BUY/SELL ALERT
                                                           1339 Virginia Rd.
Vol. 1, No. 35                                           Montecito, CA 93108
April 9, 1992                                                 (805) 565-2039
                                                      CompuServe: 72020,2050


   SELL National Western Life (Nasdaq: NWLIA)
      * I am not able to sell NWLIA today because my shares are currently
        tied up in an IRA transfer from one broker to another.  However,
	I would sell if I could.  I will use today's closing price for
	newsletter performance tracking purposes.  I bought NWLIA on March 5
	at 40 (see Vol.1 #24).  Yesterday's close was 31 1/2.
   BUY Teledyne July 20 puts (symbol: TDYSD)
      * Today I bought TDYSD at 7/8.
 
   Model Portfolio:
      * Sell 200 National Western Life


Discussion: National Western Life

   NWLIA has been breaking down significantly over the past week.  A major
upward trendline has been violated and I see no significant support anytime
soon.  It is no longer attractive from a short-term trading perspective.  It
could easily become attractive again, however, if and when it shows signs of
bottoming out.


Discussion: Teledyne Inc.

   Since most of my recent bullish positions have not been working out very
well (as can be seen from the selling at a loss I've been doing this week),
I have been looking of late for stocks in which to take a bearish position.
   Teledyne had been on a strong uptrend until yesterday.  From a closing
low of 17 1/4 last November, the stock has risen to a high of 28 3/8 set
a couple of weeks ago.  The uptrend was not broken until yesterday.
   Yesterday, the company announced first quarter operating net of 21 cents
a share, vs. 28 cents last year.  This was well below Street estimates.
I expect to see lowered estimates for FY '92 and '93 earnings coming out
in the next few days.
   In response to yesterday's news, the stock took a severe hit, falling
4 5/8 to close at 22 3/4 on extremely heavy volume.
                              - END -