QQQQ Morning Update

Monday, January 5, 2009, 8:48 am EST

Closing price: 29.75 +1.29 +4.34%
QQQQ soared on strong buying.
Apple and Amazon led the tech sector higher. Semiconductors also bounced
back to gain 5%, despite a Semiconductor Industry Association report that
November chip sales had fallen nearly 10%. Among other tech bellwethers,
Google was exceptionally strong.

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: BEARISH
Current (8:48 am EST) QQQQ pre-market price: 30.59 -0.44 -1.42%

Preceding day market actions:
Closed Jan 27/30 Call Spread @ 2.31
10% in 24 days!

Current open positions:
1. Bull Debit Call Spread (opened on 11/04/08, rolled on 12/18/08)
Long QAVAC Jan 29 Call
Short QAVAG Jan 33 Call
Debit 3.51
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,
11/12/08)
Long QAVAC Jan 29 Call
Short QAVAG Jan 33 Call
Net Debit 3.74
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, 12/16/08)
Long WDAM Jan10 39 Call
Short WDAS Jan10 45 Call
Net Debit 5.63
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

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