QQQQ Morning Update

Tuesday, September 4, 2007, 8:55 AM EST

Closing prices:
QQQQ 48.87 +0.54 +1.12%
QQQQ surged on news from Fed
BULLISH FACTORS: DELL impressed
BEARISH FACTORS: strong resistance at 49.00

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: 48.86 -0.01 -0.02%

Preceding day market actions:
1. Closed Credit Put Spread (partial fill)
BTC QQQUU QQQQ Sep 47 Put
STC QQQUR QQQQ Sep 44 Put Debit 0.36
6.6% gain in 10 days!
2. Closed Credit Put Spread
BTC QQQUT QQQQ Sep 46 Put
STC QQQUQ QQQQ Sep 43 Put
Credit 0.22
7.8% 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

Alerts:
None