QQQQ Morning Update

Friday, October 5, 2007, 8:45 AM EST

Closing prices:
QQQQ 51.77 +0.12 +0.23%
QQQQ little changed awaiting the employment release
BULLISH FACTORS: AAPL upgraded
BEARISH FACTORS: INTC, AMD and NVDA downgraded

Intermediate-term outlook (weekly chart): NEUTRAL
Short-term outlook (daily chart): BULLISH
Very short-term outlook (60-min chart):BEARISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): BULLISH
Current�QQQQ pre-market price: 51.91 +0.14 +0.27%

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, rolled on 9/20/07)
Long QQQJA QQQQ Oct 53 Call
Short QQQJX QQQQ Oct 50 Call
Net Credit 1.1849

Alerts:
None