QQQQ Morning Update

Friday, November 9, 2007, 8:40 AM EST

Closing prices:
QQQQ 53.35 -1.33 -2.43%
QQQQ plunged on CSCO news and technical correction
BULLISH FACTORS: NVDA beat estimates
BEARISH FACTORS: CSCO disappointed

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): BEARISH
Current QQQQ pre-market price: 50.94 -0.79 -1.53%

Preceding day market actions:
1. Closed Credit Call Spread
BTC QQQKB QQQQ Nov 54 Call
STC QUEKE QQQQ Nov 57 Call
Debit 0.26
19.1% Gain in 18 Days!

2. Opened Credit Call Spread
BTO QUELD QQQQ Dec 56 Call
STO QQQLA QQQQ Dec 53 Call
Credit 1.15
3. Closed Credit Call Spread
BTC QQQLA QQQQ Dec 53 Call
STC QUELD QQQQ Dec 56 Call
Debit 0.98
9.2% Gain in 1 Day!

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