QQQQ Morning Update

Monday, September 17, 2007, 9:40 AM EST

Closing prices:
QQQQ 49.22 +0.04 +0.08%
QQQQ little changed ahead of Feds news
BEARISH FACTORS: INTC downgraded

Intermediate-term outlook (weekly chart): BEARISH
Short-term outlook (daily chart): BULLISH
Very short-term outlook (60-min chart):NEUTRAL
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): VERY BEARISH
Current QQQQ Price: 49.22 +0.00% +0.00

Preceding day market actions:
None

Current open positions:
1. Credit Call Spread (opened on 5/04/07, rolled on 7/12/07 and 9/5/07)
Long QQQJZ Oct 52 Call
Short QQQJW Oct 49 Call
Net Credit 0.20
2. Credit Call Spread (opened on 9/07/07)
Long QQQJZ Oct 52 Call
Short QQQJW Oct 49 Call
Credit 1.19
3. Credit Call Spread (opened on 9/07/07)
Long QQQIA Sep 53 Call
Short QQQIX Sep 50 Call
Credit 0.33

Alerts:
None