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The guided-flux technique as described for the first time in 1963  is generally considered as one of the most interesting all-magnetic techniques, mainly because it has no theoretical speed limitation. At the present time, no theoretical analysis of systems using this technique is available. The design of a shift register is discussed, and the way the shape of the element may be changed in order to increase the flux gain is shown. Also the logic element is analyzed and a new AND circuit is proposed. Practical examples are given of circuits realized with Permalloy sheets.