Operation red indicator appears between 4 and 1 o'clock and travels 4 to 1. also there are numbers on a wheel underneath dial face 8 to 12. any ideas what these are?

That's the battery number for the watch also known as the #377. It's the most common watch battery in the world. Your model number is located at the bottom of the dial (face) below the six-o'clock position. You will need a 10 power jeweler's loupe or magnifying glass to see it and read it. Jot down the number and contact Elgin directly (MZ Berger Co,) for the extra links.
MZ Berger.

The three small dials on this watch are all part of a "stopwatch" system. The small dial at the 12 o'clock is for tenths of a second( each half circle completed is one second or 1 whole rotation equals 2 seconds.) the small dial at the 6 o'clock counts a full 60 seconds for each revolution, and the dial at the 9 o'clock counts minutes(one full circle equaling an hour.) when the stop watch is started the 12 o'clock and 6 o'clock dials will start at the same time. you will notice that every half turn on the top dial equals one "tick" on the bottom dial. After the first minute of timing the top dial will stop ticking as it is for more precise timing of things that take less than 1 minute. each full rotation of the bottom dial will then equate to one "tick" of the 9 o'clock dial. hence the three dials counting tenths of a second, seconds and minutes. the setting of these dials is fairly easy once you understand the purpose. on the side of the watch there are two buttons(one top and one bottom) with a setting wheel in the center. When in use the top button starts and stops the stopwatch and the bottom button resets the counters. To set the watch simply pull the center wheel away from the watch all the way(2 clicks) set your minute hand and hour hand and then tap the bottom button repeatedly until the small dials all line up straight up. once that is done push the center wheel button halfway into the watch or one click to set the date. then simply push the wheel the rest of the way in and voila!!! hope this answers some questions

I have the same clock. Here's what I did to re-set it after changing batteries: After replacing batteries, use the turn dial to set the correct time. Press the RED button 6 times, wait for it to go through that series of chimes, then press the button again to set the time.
Example: Press RED button 6 times. Wait for it to chime. Press RED button the correct number of times for the hour to be set. For 5:00, press the button 5 times, etc.
I lost the directions to my clock, and I am posting this from memory and also just had to re-set mine and it works OK now.
Hope this helps!

If you go to the Boluva web site http://www.bulova.com/brands/bulova/bulova.aspx?brand=bulova#coll_id=30&coll_name=Marine Star&gender=1 you will be able to find your watch on their list.

Click on your model and you will see a page with information on the watch which includes operating instructions which you can download.

instruction manual for radio watch sm2452 required

CLOCK OILING TIPS * NOTE: Many Master Clock Smiths and Hobbyists used many different oils and as many different techniques.
* It is only good sense to use only the best in quality when selecting clock oils and grease. A number of fine oils are made especially for clocks. The oil used should stay in place and not evaporate easily and have no tendency to gum or get sticky as it ages. Most clock oils meet these standards. [CAUTION: Never consider using non-clock lubricants, as they tend to not really work well in clocks. Some are too light and cause unnecessary bushings wear, while others are too thick or can evaporate, over time will gum up and stop the clock prematurely.]

Oiling Procedures
-Main-springs are oiled after cleaning and before they are recoiled.
-Teeth and pinions are never oiled.
-Normally, the dial train of gears, hour wheel, minute wheel and minute wheel post are not oiled. However, oil is used between the center shaft and cannon pinion where slip friction is present in setting the hands.
-All points of friction such as train wheel pivots to bushings are oiled. Verge faces are oiled directly.
-Oil is always used sparingly and should never run all over the plates.

Hope this tip helps.

R/
DAvid

http://antiqueclock.clockstop.com/oil.htm

The ones associated with the little circles? One dial is for seconds, one for minutes, and one for hours. The seconds one should be applicable for time. The minute and hour, along with the big seconds hand that is centre mounted are for the chronograph function.

so its a chrono watch i belive. well sometimes diffrent models require diffrent operations to set up the display.
Perhaps the manual can be found on the internet site of the watches brand.

If you are sure the hands are not touching as they pass, perhaps the minute hand and hour hand are binding together at the hub. Try this: Gently pull on the minute hand by gripping its hub with the nails of your finger and thumb. It should slide forward a little (or come off). Also the same for the hour hand, to ensure it is not binding on the face of the dial.
I don't know the particular clock, but if it has a SECONDS hand, this is often the one that needs to be freed.
If all the hands are free, all should be good. If it has a seconds hand and the clock stops when this hand is going "uphill", try a fresh battery. If this doesn't fix it, remove the seconds hand and use the clock without it. Or you could try to counterbalance the hand by adding a little weight to the opposite side... this could work, but as it increases the mass of the hand also, it still might be a problem.
Another way might be to shorten the seconds hand..!