QQQQ Morning Update

Monday, August 27, 2007, 1:40 AM EST

Closing prices:
QQQQ 48.20 +0.67 +1.41%
QQQQ extended gains in light volume

BULLISH FACTORS: strenght in HPQ and IBM

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 pre-market price: 48.14 -0.06 -0.12%

Preceding day market actions:

Closed Bullish Credit Put Spread (partial fill for optionsxpress customers only):
BTC QQQUU QQQQ Sep 47 Put
STC QQQUR QQQQ Sep 44 Put with Debit 0.40 or 4.7% gain in 3 days!

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)
Long QQQUR QQQQ Sep 44 Put
Short QQQUU QQQQ Sep 47 Put Credit 0.56

3. Credit Put Spread (opened on 8/23/07)
Long QQQUI QQQQ Sep 43 Put
Short QQQUT QQQQ Sep 46 Put Credit 0.44

Alerts:

None