QQQQ Morning Update

Wednesday, January 14, 2009, 8:40 am EST
Closing price: 26.53 +0.01 +0.03%
The tech sector flirted with the 50-Day moving average ahead of Intel's
earnings report. Some technology companies finished in positive territory
included Microsoft, Google and Oracle. Yahoo shares initially jumped after
The Wall Street Journal reported that Carol Bartz will take over the
Internet portal as its new CEO. But the company's shares eventually sank
nearly 1%.

Intermediate-term outlook: BEARISH
Short-term outlook: BULLISH
Very short-term outlook: BEARISH
Pre-market sentiment: BEARISH
Current (8:28 am ET) QQQQ pre-market price: 29.22 -0.31 -1.05%

Preceding day market actions:
None

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, 10/14/08, 08/18/08 and
08/18/08, rolled on 01/08/09, average debit 3.22)
4. Bull Debit Call Spread (bought on 6/06/08 @2.20, rolled on 6/25/08,
9/23/08)
Long QQQCU Q1Mar 47 Call
Short QQQCY Q1Mar 51 Call
Net Debit 3.7068
5. Long QQQQ stock (bought @49.96 on 6/06/08)
6. 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
7. 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
8. Debit Call Spread (opened on 01/05/2009, target 2.28)
Long QAVBB Feb 28 Call
Short QAVBE Feb 31 Call
Debit 2.07
9. Debit Call Spread (opened on 11/29/07, 12/06/07, 12/07/07, 12/21/07
and
08/18/08, rolled on 01/07/08, 01/28/08, 06/19/08 and 09/25/08)
Long WDAM Jan10 39 Call
Short WDAR Jan10 44 Call
Debit 4.80

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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