QQQQ Moring Update

Friday, May 9, 2008, 8:45 AM EST

Closing price:
48.40 +0.36 +0.75%
Managed to hold gains and tried to gather momentum

Intermediate-term outlook: BULLISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BEARISH
Current (8:50 am ET) QQQQ pre-market price: 48.05 -0.35 -0.72%

Traders welcomed some better-than-expected April retail sales, but gains were limited by record-high oil prices. There is more than a 50 percent chance of moving higher next week.

Preceding days market actions:
None

Alerts: 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 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. Long QQQQ stock (BTO @47.83 on 4/30/08)
4. Debit Call Spread (BTO @2.23 on 4/30/08)
Long UQQFR Q2Jun 44 Call
Short UQQFU Q2Jun 47 Call
5. Long UQQIU Q3Sep 47 Call (BTO @ 4.0398 on 5/02/08, Target 4.50)
6. Debit Call Spread (BTO @2.18 on 5/02/08)
Long UQQFS Q2Jun 45 Call
Short UQQFV Q2Jun 48 Call
7. Long QQQIT QQQQ Sep 46 Call (BTO @ 4.72 on 5/7/08, Target 5.16)

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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