QQQQ Morning Update

Monday, January 28, 2008, 8:40 AM EST

Closing prices: 43.99 -0.92 -2.05%
QQQQ slipped after a striking comeback

Intermediate-term outlook (weekly chart): BEARISH
Short-term outlook (daily chart): BEARISH
Very short-term outlook (60-min chart): BULLISH
TODAY'S PRE-MARKET SENTIMENT (BASED ON NASDAQ FUTURES): BEARISH
Current QQQQ pre-market price: 43.84 -0.15 -0.34%

Preceding day market actions:
None

Current open positions:�
1. Bull Debit Call Spread (opened on 11/29/07, 12/06/07, 12/07/07 and� 12/21/07,� rolled on 1/7/08)
Long QQQBV� Feb 48 Call
Short QQQBY� Feb 51 Call
Average Debit 2.631
2.� Bull Debit Call Spread (opened on 01/07/08)
Long QQQBT� Feb 46 Call
Short QQQBW� Feb 49 Call
Debit 1.99
3. Bull Debit Call Spread (opened on 01/23/08)
Long QQQCO Mar 41 Call
Short QQQCR Mar 44 Call
Debit 2.01

Alerts: None