Wednesday, August 29, 2007

QQQQ Morning Update

Wednesday, August 29, 2007, 8:55 AM EST

Closing prices:
QQQQ 46.74 -1.14 -2.38%
QQQQ plunged on news from Fed
BULLISH FACTORS: VCLK upgraded, STX raised outlook

Intermediate-term outlook (weekly chart): BEARISH
Short-term outlook (daily chart): BEARISH
Very short-term outlook (60-min chart): BEARISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): BULLISH
Current QQQQ pre-market price: 47.02 +0.28 +0.60%

Preceding day market actions:
Opened Credit Put Spread
Bought to Open QQQUQ QQQQ Sep 43 Put
Sold to Open QQQUT QQQQ Sep 46 Put
Credit 0.42

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

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