QQQQ Morning Update

Tuesday, January 29, 2008, 8:46 AM EST

Closing prices: 44.33 +0.34 +0.77%
QQQQ moved higher on strong buying interest

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): SLIGHTLY BULLISH
Current QQQQ Price: 44.47 +0.14 +0.32%

Preceding day market actions:
Rolled Debit Call Spread:
Bought to Close QQQBY Feb 51 Call at 0.03
Sold to Close QQQBV Feb 48 Call at 0.14
Bought to Open QQQFV Jun 48 Call at 0.8109
Sold to Open QQQFY Jun 51 Call at 1.6909
Debit 0.77

Current open positions:�
1. Bull Debit Call Spread (opened on 11/29/07, 12/06/07, 12/07/07,�12/21/07,�rolled on 1/7/08 and 1/28/07)
Long QQQFV Jun 48 Call
Short QQQFY Jun 51 Call
Average Debit 3.401
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