QQQQ Morning Update

Thursday, August 30, 2007, 8:55 AM EST

Closing prices:
QQQQ 48.08 +1.34 +2.87%
QQQQ bounced back on bargain-hunting
BULLISH FACTORS: AAPL and INTC are very strong, STX raised outlook

Intermediate-term outlook (weekly chart): BEARISH
Short-term outlook (daily chart): BULLISH
Very short-term outlook (60-min chart): BULLISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): BEARISH
Current QQQQ Price: 47.92 -0.16 -0.33%

Preceding day market actions:
None

Current open positions:
1. Credit Call Spread (opened on 5/04/07, rolled on 7/12/07)
Long QQQIX Sep 50 Call
Short QQQIU Sep 47 Call
Net Credit 0.83
2. Credit Put Spread (opened on 8/21/07, partial fill on 7/24/07)
Long QQQUR QQQQ Sep 44 Put
Short QQQUU QQQQ Sep 47 Put
Credit 0.56
3. Credit Put Spread (opened on 8/28/07)
Long QQQUQ QQQQ Sep 43 Put
Short QQQUT QQQQ Sep 46 Put
Credit 0.42

Alerts:
None

Open the QQQQ main page for today's technical signals, reports and
charts:

http://www.optionsmart.com/osmembers/qqq/

The OptionSmart Team
qqq@optionsmart.com
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