QQQQ Morning Update

Tuesday, October 23, 2007, 8:40 AM EST

Closing prices:
QQQQ 53.07 +0.63 +1.20%
QQQQ jumped on corporate news
BULLISH FACTORS: AAPL beat estimates and impressed the market
BEARISH FACTORS: QQQQ deeply overbought, TXN beat estimates but disappointed

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: 53.54 +0.47 +0.89%

Preceding day market actions:
Opened Bearish Credit Call Spread
Bought to Open QUEKE QQQQ Nov 57 Call
Sold to Open QQQKB QQQQ Nov 54 Call
Credit 0.70 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
4. Credit Call Spread (opened on 10/22/07)
Long QUEKE QQQQ Nov 57 Call
Short QQQKB QQQQ Nov 54 Call
Net Credit 0.70

Alerts:
None

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charts:

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The OptionSmart Team
qqq@optionsmart.com
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