QQQQ Morning Update

Wednesday, November 5, 2008, 8:40 AM EST

Closing price: 33.75 +0.93 +2.83%
Soared on broad-based buying
GOOG and YHOO rose on advertising partnership. Many tech giants were very
strong. Analysts said negative corporate and economic news already have
been priced into the market.

Intermediate-term outlook: BEARISH
Short-term outlook: BEARISH
Very short-term outlook: NEUTRAL
TODAY'S PRE-MARKET SENTIMENT: BULLISH
Current (8:40 am ET) QQQQ pre-market price: 33.41 -0.34 -1.01%

Preceding day market actions:
Sold Debit Dec 28/31 Call Spread @ 2.41 with a 9.5% gain in 12 days!
Bought Debit Dec 30/33 Call Spread @ 2.15

Current open positions:
1. Bull Debit Call Spread (opened on 11/04/08, target 2.36)
Long QAVLD Dec 30 Call
Short QAVLG Dec 33 Call
Debit 2.15
2. Long QQQAK QQQQ Jan 37 Call (BTO @2.06 on 10/14/08, target 2.26)
3. Bull Debit Call Spread (opened on 10/13/08, rolled on 10/16/08)
Long QAVKC Nov 29 Call
Short QAVKF Nov 32 Call
Net Debit 2.94
4. Long QQQAN Jan 40 Call (bought on 9/22/08 @3.90, target 4.30)
5. Long QQQAX Jan9 50 Call (bought on 08/25/08 @ 1.82, target 2.01)
6. Long QQQAW Jan9 49 Call (bought on 08/18/08 @ 2.84, target 3.13)
7. Bull Debit Call Spread (bought on 08/18/08 @ 2.08, rolled on
9/25/08)
Long QQQAS Jan 45 Call
Short QQQAW Jan 49 Call
Net Debit 3.03
8. Long QQQAW QQQQ Jan9 49 Call (BTO @2.86 on 8/13/08, target 3.15)
9. Bull Debit Call Spread (bought on 6/06/08 @2.20, rolled on 6/25/08,
9/23/08)
Long QQQCU Q3Mar 47 Call
Short QQQCY Q3Mar 51 Call
Net Debit 3.7068
10. Long QQQQ stock (bought @49.96 on 6/06/08)
11. Bull Debit Call Spread (bought on 5/21/08, rolled on 9/24/08)
Long UQQCT Q1Mar 46 Call
Short UQQCW Q1Mar 49 Call
Net Debit 2.82
12. 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
13. 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

Alerts: None

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

The OptionSmart Team

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

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