QQQQ Morning Update

Thursday, February 7, 2008, 8:55 AM EST

Closing prices: 42.81 -0.86 -1.97%
QQQQ plunged again on recession fears
AFTER HOURS: CSCO disappointed

Intermediate-term outlook (weekly chart): BEARISH
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 Price: 42.17 -0.64 -1.49%

Preceding day market actions:
None

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
4. Long QQQQ at 44.26 (opened at 2/5/08)
5. Long OZCAR Jan9 44 Call at 5.33 (opened on 2/5/08)

Alerts: None