QQQQ Morning Update

Thursday, April 3, 2008, 8:50 AM EST

Closing prices:
45.49 -0.10 -0.22%
QQQQ little changed amid mixed economic news
AFTER-HOURS: RIMM beat estimates and added 3.7%

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BEARISH
TODAY'S PRE-MARKET SENTIMENT: VERY BEARISH
Current QQQQ pre-market price: 45.48 -0.01 -0.02%

Preceding day market actions:
1. Opened QQQQ stock at 45.91
2. Opened Debit Call Spread:
Bought to Open QQQEP QQQQ May 42 Call
Sold to Open QQQES QQQQ May 45 Call
Debit 2.19

Current open positions:
1. Bull Debit Call Spread (opened on 11/29/07, 12/06/07, 12/07/07, 12/21/07, rolled on 01/07/08 and 01/28/07)
Long QQQFV Jun 48 Call
Short QQQFY Jun 51 Call
Average Debit 3.401
2. Bull Debit Call Spread (opened on 01/07/08, rolled on 02/13/08)
Long QQQFT Jun 46 Call
Short QQQFW Jun 49 Call
Total Debit 3.18
3. Long OZCAR Jan9 44 Call (bought at 5.33 on 2/5/08)
4. Bull Debit Call Spread (opened on 3/28/08)
Long QQQEO QQQQ May 41 Call
Short QQQER QQQQ May 44 Call
Debit 2.25
5. QQQQ (bought on 4/2/08 at 45.91, target 46.60)
6. Bull Debit Call Spread (opened 4/2/08):
Bought to Open QQQEP QQQQ May 42 Call
Sold to Open QQQES QQQQ May 45 Call
Debit 2.19, Target 2.41

Alerts:
1. QQQQ stock target 46.60
2. GTC Limit Order:
Close Debit Call Spread:
Buy to Close QQQES QQQQ May 45 Call
Sell to Close QQQEP QQQQ May 42 Call
Credit 2.41

Open the QQQQ main page for today's technical signals, reports and
charts:
http://www.optionsmart.com/osmembers/qqq/

The OptionSmart Team
qqq@optionsmart.com
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