QQQQ Morning Update

Wednesday, July 11, 2007, 8:45AM EST

Closing prices:
QQQQ 48.48 -0.41 -0.84%
QQQQ plunged on technical correction
BULLISH FACTORS: MU upgraded
BEARISH FACTORS: QQQQ forming top

Intermediate-term outlook (weekly chart): BULLISH
Short-term outlook (daily chart): BULLISH
Very short-term outlook (60-min chart): BEARISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): BULLISH

Current QQQQ pre-market price: 48.50 +0.02 +0.04

Preceding day market actions:
None

Current open positions:
1. Credit Call Spread (Opened on 5/04/07)
Long QQQGX Jul 50 Call
Short QQQGU Jul 47 Call
Credit 1.08
2. Credit Call Spread (Opened on 5/24/07)
Long QQQHX Aug 50 Call
Short QQQHU Aug 47 Call
Credit 0.9693
3. Credit Call Spread (Opened on 6/13/07)
Long QQQGX Jul 50 Call
Short QQQGV Jul 48 Call
Credit 0.40
4. Credit Call Spread (Opened on 6/19/07)
Long QQQGY Jul 51 Call
Short QQQGV Jul 48 Call
Credit 0.73

Alerts: None