QQQQ Morning Update

Friday, August 31, 2007, 8:40 AM EST

Closing prices:
QQQQ 48.33 +0.25 +0.52%
QQQQ held onto gains ahead of DELL's report
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): BULLISH
Current QQQQ pre-market price: 48.85 +0.52 +1.08%

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:
Day Limit Order

Close Bulish Credit Put Spread
BTC QQQUT QQQQ Sep 46 Put (AT)
STC QQQUQ QQQQ Sep 43 Put
Debit 0.15