QQQQ Morning Update

Friday, January 9, 2009, 8:18 am EST
Closing price: 30.76 +0.32 +1.05%
QQQQ gained ground on positive company news. The EMC stock led the tech
sector higher. The company said it would post better earnings than
expected. Palm shares jumped almost 35% after the company unveiled its new
software. Despite the overall positive performance of the tech sector,
there were some decliners.

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BULLISH
TODAY'S PRE-MARKET SENTIMENT: NEUTRAL
Current (8:45 am ET) QQQQ pre-market price: 30.69 -0.07 -0.23%

Preceding day market actions:
Rolled Jan 40 Call, Jan 50 Call and Jan 49 Call
BTO OZCAC Jan11 55 Call @ 0.57

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. 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
3. Long OZCAC Jan11 55 Call (bought on 9/22/08, 08/18/08 and 08/18/08,
rolled on 01/08/09, average debit 3.71)
4. 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
5. 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
6. Long QQQQ stock (bought @49.96 on 6/06/08)
7. 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
8. 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
9. 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
10. Debit Call Spread (opened on 01/05/2009, target 2.28)
Long QAVBB Feb 28 Call
Short QAVBE Feb 31 Call
Debit 2.07

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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