QQQQ Morning Update

Tuesday, December 9, 2008

Closing price: 30.08 +1.14 +3.94%
QQQQ closed with broad gains amid positive news.
Gains came from Apple, Microsoft, Dell and many other big tech names.
Economic news was light Monday and will be until Thursday and Friday.
Retailers will be in focus this week with the retail sales report due out
on Friday. We expect the tech sector will fluctuate with the broader
market.

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BULLISH
Current (8:40 am ET) QQQQ pre-market price: 29.75 -0.33 -1.10%

Preceding day market actions:
None

Current open positions:
1. Bull Debit Call Spread (opened on 12/04/08, target 2.90)
Long QAVLW Dec 23 Call
Short QAVLZ Dec 26 Call
Debit 2.63
2. 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
3. Long QQQAK QQQQ Jan 37 Call (BTO @2.06 on 10/14/08, target 2.26)
4. Bull Debit Call Spread (opened on 10/13/08, rolled on 10/16/08,
11/12/08)
Long QAVAC Jan 29 Call
Short QAVAG Jan 33 Call
Net Debit 3.74
5. Long QQQAN Jan 40 Call (bought on 9/22/08 @3.90, target 4.30)
6. Long QQQAX Jan9 50 Call (bought on 08/25/08 @ 1.82, target 2.01)
7. Long QQQAW Jan9 49 Call (bought on 08/18/08 @ 2.84, target 3.13)
8. 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
9. Long QQQAW QQQQ Jan9 49 Call (BTO @2.86 on 8/13/08, target 3.15)
10. 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
11. Long QQQQ stock (bought @49.96 on 6/06/08)
12. 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
13. 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
14. 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

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