QQQQ Morning Update

Monday, May 19, 2008, 8:55 AM EST

Closing price:
50.01 +0.04 +0.08%
Little changed amid mixed economic news

Intermediate-term outlook: BULLISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BULLISH
Current (8:55 am ET) QQQQ pre-market price: 50.06 +0.0.05 +0.10%

QQQQ erased intra-day losses and finished slightly higher. We expect more turbulence this week.

Preceding days market actions:
1.Closed Debit Call Spread: Q2Jun 46/49 Call: bought @2.12 on 5/13/08, sold @ 2.35
10.8% in 3 days!
2. Opened Debit Call Spread:
Long UQQFT QQQQ Q2Jun 46 Call
Short UQQFW QQQQ Q2Jun 49 Call
Debit 2.28

Alerts: None

CURRENT OPEN POSITIONS
1. Bull Debit Call Spread (opened on 11/29/07, 12/6/07, 12/7/07, 12/21/07, rolled on 1/7/08 and 1/28/07)
Long QQQFV Jun 48 Call
Short QQQFY Jun 51 Call
Net Debit 3.401
2. Bull Debit Call Spread (opened on 1/7/08, rolled on 2/13/08)
Long QQQFT Jun 46 Call
Short QQQFW Jun 49 Call
Net Debit 3.18
3. Bull Debit Call Spread (opened 5/16/08)
Long UQQFT QQQQ Q2Jun 46 Call
Short UQQFW QQQQ Q2Jun 49 Call
Debit 2.28

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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