QQQQ Morning Update

Friday, July 18, 2008, 8:55 AM EST
Closing price:
45.64 +0.30 +0.66%
Extended gains on strong financials

Semiconductors led the rally. EBAY was weak.
AFTER HOURS: MSFT, AMD and GOOG disappointed.

Intermediate-term outlook: BULLISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
Current (8:55 am ET) QQQQ pre-market price: 45.17 -0.47 -1.03%

Preceding day market actions:
1. Rolled Jul 46/49 Call Spread:
BTC QQQGW Jul 49 Call @ .01
STC QQQGT Jul 46 Call @ .22
BTO UQQLU Dec 47 Call @ 2.68
STO UQQLZ Dec 52 Call @ .89
Net Debit 1.58
2. Opened Debit Call Spread:
BTO QQQIP Sep 42 Call @ 4.70
STO QQQIS Sep 45 Call @ 2.56
Debit 2.14
3. STC QQQAR Jan9 44 Call @ 4.65 with 10.7% Gain in 2 Days!
4. BTO QQQAR QQQQ Jan9 44 Call @ 4.45
Target 5.06

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,
07/17/08)
Long UQQLU Dec 47 Call
Short UQQLZ Dec 52 Call
Net Debit 4.45
3. Bull Debit Call Spread (bought on 5/21/08 @2.07, target 2.30)
Long UQQIT Q3Sep 46 Call
Short UQQIW 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 Q3Sep 47 Call
Short UQQIX Q3Sep 50 Call
Net Debit 2.9568
6. Long OZCAQ Jan9 43 Call (BTO @5.56 on 6/27/08, target 6.22)
7. Long QQQAR Jan9 44 Call (BTO @4.45 on 7/17/08, target 5.06)
8. Bull Debit Call Spread (bought @2.14 on 07/17/08):
Long QQQIP Sep 42 Call
Short QQQIS Sep 45 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.

-------------------------------------------------------------------
To unsubscribe from our periodic e-mail messages, please click the following link:
http://www.optionsmart.com/amember/unsubscribe.php?e=admin1129.optionsmart%40blogger.com&s=a3af

-------------------------------------------------------------------