8/28/2009 pre market update

• sold my NQU09 in the overnight session at 1646.00 for +15.25 points/contract...
• shortly after the sale, INTC raised their revenue guidance and the NQ popped to the 1660 area...
• unlike the major indices and the XLF, the SMH has not broken out of its recent base...watching it and INTC to see how they deal with testing the high of their current bases...
• for 6 straight trading days (since thursday 8/20), the NQ high or low of the day has been set between 10-1030 in the morning...
• i am watching this NQ gap up carefully...
• not sure if and where i would get back in to establish a new long position in the NQ...if i do get back in today, it would be on a pullback...