QQQQ Morning Update

Tuesday, April 29, 2008, 8:50 AM EST

Closing prices:
47.24 +0.09 +0.19%
Approached a key resistance level

Intermediate-term outlook: BULLISH
Short-term outlook: BULLISH
Very short-term outlook: NEUTRAL
TODAY'S PRE-MARKET SENTIMENT: BEARISH
Current (8:40 am ET) QQQQ pre-market price: 47.19 -0.05 -0.11%

QQQQ had digested negative news from Microsoft and successfully approached the 200MA line. This week will show whether the upward momentum is strong enough to cross this mark.

Preceding day market actions:
1. STC UQQFT Q2Jun 46 Call @ 2.75 (BTO @ 2.50 on 4/25/08) with 10% gain in 3 days!
2.BTO UQQFU QQQQ Q2Jun 47 Call @ 2.08

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
Net 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
Net Debit 3.18
3. Bull Debit Call Spread (BTO @2.25 on 3/28/08)
Long QQQEO May 41 Call
Short QQQER May 44 Call
4. Long QQQQ stock (BTO @46.68 on 4/21/08)
5. Debit Call Spread (BTO @2.18 on 04/23/08) Long UQQFQ Q2Jun 43 Call
Short UQQFT Q2Jun 46 Call
6. Long UQQFU QQQQ Q2Jun 47 Call @ 2.08 (BTO @ 2.08 on 4/28/08, Target 2.40)

Alerts:
None

Open the QQQQ main page for today's technical signals, reports and
charts:

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The OptionSmart Team
qqq@optionsmart.com
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