QQQQ Morning Update

Tuesday, August 28, 2007, 8:55 AM EST

Closing prices:
QQQQ 47.88 -0.32 -0.66%
QQQQ looked for direction

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: 47.65 -0.23 -0.48%

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)
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