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

			       SELL ALERT
                                                               P.O. Box 4791
Vol. 1, No. 88                                       Santa Barbara, CA 93140
September 23, 1992                                            (805) 565-2039
11:55pm EDT                                           CompuServe: 72020,2050


   Stock+Options Account:  No trades
      * This afternoon I sold all 150 shares of Countrywide Credit (CCR) at
        23 7/8; however, this was a mistake.  See below.  I bought these
	shares on July 6 at a split-adjusted price of 25.917 (see Vol.1 #65).

   Stock-Only Account:  No trades

   DESI Trading System(tm):  No trades


I Sold Countrywide Credit; You May Wish To Hold

   I sold just minutes before the close today for purely technical reasons,
one of which was a mistake.  The stock broke below important support today,
after trending downward for the past two months.
   Due to an error on my part, I thought the trading volume was ten times
heavier than it actually was on this downside breakout.  I realized the error
only after selling.  The actual magnitude of today's trading volume was quite
modest, and this changes the picture considerably.
   30-year Treasury bonds have been selling off, generating fears of higher
mortgage rates; this is a negative for Countrywide's business (mortgages) and
has prompted today's selloff.
   Taking the longer view, however, I expect that long-term interest rates
will remain at historically very low levels.  The current backing up of long-
term rates does not represent a trend reversal.  The longer-term prospects
for Countrwide stock, then, remain positive.
   I took a loss today, but I suggest waiting for the stock to bounce back to
the 26-27 range.

      <Printed version contains stock chart here.
       Contact Ken Deen to obtain a copy.>
			      -END-