S A ADVISORY APRIL 3, 1997
PREVIOUS RECOMMENDATIONS

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Recommendations from October 23, 1995 to April 3, 1997 - % Gain 29%

(note: next newsletter will have complete listing on all portfolios. Our November 1996 Newsletter has a complete listing)

							  Recommended  Current	Gain or	

Company				Symbol		Date		Price	Price	Loss	Status



*Imaging Diagnostic System	IMDS		10-23-95	.78	3 1/16	292%G	H

CTI Group Inc.			CTIG		12-10-95	.41	7/32	46%L	H

Sequoa System			SEQS		12-10-95	5.625	2 3/16	61%L	B

ASM Pacific Tech LTD		HongKong	12-10-95	.90	.68	24%L	B

Varitronix			HongKong	12-10-95	1.65	1.50	9%L	B

Eurodisney 2004WTS		France		12-10-95	.27	.22	18%L	B

Plasma Therm			*PTIS		12-18-95 	2.18	4.81	*120%G	B/H

Electronon International	*EPLTF		12-18-95	2.37	1 1/32	56%L	B

AFP Imaging			AFPC		12-18-95	1.44	1 15/15	36%G	B/H

Centercore			*CCOR		12-18-95	.18	.20	ll%G	B

Cable Link, Inc.		***CBLK		2-28-96		2.08	3.50	68%G	B

Electrocon International	EGLS		4-2-96		15.75	17.375	10%G	B

Ultratech Stepper		UTEK		4-2-96		18.00	22 1/4	24%G	B

Bear Stearns JapYen		BYEWS		4-22-96		6.50	12 5/8	94%G	H

American Education Corp		AEDU		6-18-96		1.125	5/8	44%L	B/H

Integrated Silicon Solution	ISSI		6-24-96		12.25	8 3/8	32%L	B

Alpha Micro System		ALMI		7-20-96		2.00	2.00	0%	B

CVD Equipment			CVDE		9-5-96		1.375	1.75	27%G	B

HIA Inc.			HIAI		9-5-96		15/32	.28	40%L	B

Shinawatra Computer		*Thailand	10-14-96	8.00	4.000	50%L	B

  & Communications

Orbit International		ORBT		10-15-96	2.56	2.375	7%L	B

Templeton Russian Fund		TRF		9-27-96		21.50	33 1/4	55%G	B/H

Ashanti Goldfields		ASL		3-20-97		15.25	13.00	15%L	B

EV Environmental		EVEN		4-2-97		13/32	13/32		B



*=price recommendations 

*1. EuroDisney 10-26-94 @ .12

*2. Plasma Therm 9-11-92 @ .59 - S 1/2@ $3.06 on 2-14-94 and @ $7 3/16 on 2-26-96

*3. Quantum Corp - 6-7-95 @ $22.00

*4. Electrocon - 8-31-95 @ .95

*5. Centercore - 5-2-93 @ .81 and 2-15-95 @ $1.00

*6. Shinawatra 5-18-94 @ $12.25

*** 7. Cablelink - reflects a 20% to 50% stock dividend

8. recently sold: EMC corp 129%G, QNTM 129%G and SALT 130%G

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In order to stay in line with SEC guidelines, S.A. Advisory may buy, hold or sell positions in all securities recommended. The portfolios are all hypothetical in nature. It is likely that all recommendations were purchased prior to the recommendation. We may buy additional shares or may sell shares at any time. S.A. Advisory's portfolios are geared towards sophisticated investors aiming for long-term capital gains. Our trading habits may vary at our own discretion. Most recommendations are based upon strict fundamental analysis. Usually revenue and earnings EST for low priced common stock result from management discussions.


APRIL-MAY 1997 NEWSLETTER

Copyright © 1997 S.A. Advisory