QQQQ Morning Update

Friday, September 21, 2007, 8:50 AM EST

Closing prices:
QQQQ 50.05 -0.12 -0.24%
QQQQ was unable to hold gains
BEARISH FACTORS: PALM issued in-line guidance

BULLISH FACTORS: ORCL beat estimates
Intermediate-term outlook (weekly chart): BEARISH
Short-term outlook (daily chart): BULLISH
Very short-term outlook (60-min chart):BEARISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): VERY BULLISH
Current QQQQ Price: 50.38 +0.38 +0.75% Preceding day market actions:
ROLLOVER
Bearish Credit Call Spread
BTC QQQIX QQQQ Sep 50 Call at 0.2551
BTO QQQJA QQQQ Oct 53 Call at 0.1251
STO QQQJX QQQQ Oct 50 Call at 1.2351

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, rolled on 9/20/07)
Long QQQIA Sep 53 Call
Short QQQIX Sep 50 Call
Net Credit 1.1849

Alerts:
None