QQQQ Morning Update

Friday, April 25 2008, 8:50 AM EST

Closing prices:
47.27 +0.42 +0.90%
Flirted with 200-day MA

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BULLISH
Current (8:40 am ET) QQQQ pre-market price: 47.32 +0.05 +0.11%

The initial disappointment on AAPL earnings faded quickly, as buyers stepped in again. Another disappointment on MSFT earnings reported last night greatly reduced chances to penetrate the 200-day moving average this week. It may offer a good entry point slightly below the 46.00 mark.

Preceding day market actions:
1. BTO OZCAS QQQQ Jan9 45 Call @ 5.27
2. STC OZCAS QQQQ Jan9 45 Call @ 5.80 with 10% gain in 6 hours!
3. STC UQQFS QQQQ Q2 Jun 45 Call @3.35 with 10% gain in 3 days!

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. Bull Debit Call Spread (opened on 3/28/08)
Long QQQEO QQQQ May 41 Call
Short QQQER QQQQ May 44 Call
Debit 2.25
4. Long QQQQ stock (bought at 46.68 on 4/21/08)
5. Debit Call Spread (bought at 2.18 on 04/23/08)
Long UQQFQ QQQQ Q2Jun 43 Call
Short UQQFT QQQQ Q2Jun 46 Call

Alerts:
None

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The OptionSmart Team
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