QQQQ Morning Update

Friday, October 19, 2007, 8:40 AM EST

Closing prices:
QQQQ 53.78 +0.23 +0.43%
QQQQ staged a recovery effort

BULLISH FACTORS: AMD, SNDK and GOOG beat estimates
BEARISH FACTORS: QQQQ deeply overbought

Intermediate-term outlook (weekly chart): BULLISH
Short-term outlook (daily chart): BEARISH
Very short-term outlook (60-min chart): BULLISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES):�BULLISH
Current QQQQ pre-market price: 53.88 +0.10 +0.19%

Preceding day market actions: None

Current open positions:
1. Credit Call Spread (opened on 5/04/07, rolled on 7/12/07, 9/5/07 and 10/10/07)
Long QUEKD QQQQ Nov 56
Short QQQKY QQQQ Nov 51
Net Credit 0.10
2. Credit Call Spread (opened on 9/07/07, rolled on 10/10/07)
Long QUEKD QQQQ Nov 56
Short QQQKY QQQQ Nov 51
Net Credit 1.09
3. Credit Call Spread (opened on 9/07/07, rolled on 9/20/07 and 10/17/07)
Long QUEKD QQQQ Nov 56 Call
Short QQQKY QQQQ Nov 51 Call
Net Credit 1.0849

Alerts:
None