QQQQ Morning Update

Friday, July 11, 2008, 8:45 AM EST

Closing price:
45.28 +0.53 +1.18%
Closed higher on bargain-hunting

MSFT, INTC, DELL and CSCO led the tech sector higher.
AAPL rose 1.4% a day ahead of the release of the next version
of the iPhone. The chart clearly shows a bottom.

Intermediate-term outlook: BULLISH
Short-term outlook: NEUTRAL
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BEARISH

Current (8:45 am ET) QQQQ pre-market price: 44.66 -0.62 -1.37%

Preceding day market actions:
None

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

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 1/28/08, 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, rolled on 6/25/08)
Long UQQIU QQQQ Q3Sep 47 Call
Short UQQIX QQQQ Q3Sep 50 Call
Net Debit 2.9568
6. Long OZCAQ Jan9 43 Call (BTO @ 5.56 on 6/27/08, target 6.22)

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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