QQQQ Morning Update

Monday, October 22, 2007, 8:40 AM EST

Closing prices:
QQQQ 52.44 -1.34 -2.49%
QQQQ plunged on technical correction
BEARISH FACTORS: QQQQ deeply overbought

Intermediate-term outlook (weekly chart): BULLISH
Short-term outlook (daily chart): BEARISH
Very short-term outlook (60-min chart): BEARISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES):�VERY BEARISH
Current QQQQ pre-market price: 52.15 -0.29 -0.55%

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