QQQQ Morning Update

Friday, June 20, 2008, 8:50 AM EST

Closing price:
48.77 +0.75 +1.56%
Managed to move higher

Research in Motion (EIMM) hit a fresh all-time high. Apple (AAPL) was
weak. We expect a choppy trading session today.

Intermediate-term outlook: BULLISH
Short-term outlook: NEUTRAL
Very short-term outlook: BULLISH

TODAY'S PRE-MARKET SENTIMENT:BEARISH
Current (8:50 am ET) QQQQ pre-market price: -48.37 -0.37 -0.75%

Preceding day market actions:
Rolled Debit Call Spreads:
1. BTC QQQFY QQQQ Jun 51 Call
STC QQQFV QQQQ Jun 48 Call
BTO OZCAX QQQQ Jan9 50 Call
STO XZAAC QQQQ Jan9 55 Call
Net Debit 1.5
2. BTC QQQFW QQQQ Jun 49 Call
STC QQQFT QQQQ Jun 46 Call
BTO QQQGT QQQQ Jul 46 Call
STO QQQGW QQQQ Jul 49 Call
Net Credit 0.30

Open our blog "Recent QQQQ Trades" for more history:
http://qqqqrecenttrades.blogspot.com

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 1/28/08, 6/19/08)
Long OZCAX Jan9 50 Call
Short XZAAC Jan9 55 Call
Net Debit 4.90
2. Bull Debit Call Spread (opened on 1/7/08, rolled on 2/13/08, 6/19/08)
Long QQQGT Jul 46 Call
Short QQQGW Jul 49 Cal
Net Debit 2.87
3. Bull Debit Call Spread (bought on 5/21/08 @2.07, target 2.30)
Long UQQIT QQQQ Q3Sep 46 Call
Short UQQIW QQQQ Q3Sep 49 Call
4. Long QQQQ stock (bought @49.96 on 6/06/08)
5. Bull Debit Call Spread (bought on 6/06/08 @2.20)
Long UQQFU QQQQ Q2Jun 47 Call
Short UQQFX QQQQ Q2Jun 50 Call

Alerts: None

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

The OptionSmart Team
qqq@optionsmart.org
This report is intended for use only by the subscriber whose name
appears on our subscription records. It may not be copied, faxed,
or forwarded without written consent from OptionSmart.com.

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