Momentum Plays Real-Time Updates

Traders were hesitant to make any concerted moves ahead of Wednesday’s first quarter GDP reading and FOMC policy announcement.
Current (2:06 am ET) NASDAQ Futures: +2.50 1941.50

QQQQ had digested negative news from Microsoft and successfully approached the 200MA line. This week will show whether the upward momentum is strong enough to cross this mark.PRECEDING DAY ACTIVITY: Sold to Close UQQFT Q2Jun 46 Call at 2.75 (BTO @ 2.50 on 4/25/08) with 10% gain in 3 days!Current (1:09 am ET) NASDAQ [...]

Microsoft shares staged a 6% decline. With twice as many calls as puts trading today, many traders were pessimistic about this stock. Puts at the May 28 strike were being bought heavily for 21 cents apiece.
The QQQQ’s option activity illustrated a high level of confidence in its ability to move higher [...]

The initial disappointment on AAPL earnings faded quickly, as buyers stepped in again. Another disappointment on MSFT earnings reported last night greatly reduced chances to penetrate the 200-day moving average this week. It may offer a good entry point slightly below the 46.00 mark.
Our preceding day market actions: 1. BTO OZCAS QQQQ Jan9 45 [...]

MSFT and AAPL were very strong. BRCM beat estimates and surged 16%.
AFTER HOURS: AAPL beat sales estimates, but its profit guidance looks weak. AMZN beat forecasts, but its guidance slightly disappointed. Both stocks slipped after hours.
There is better than a 50-50 chance for resuming the upward trend later today.
Current (2:00 am ET) NASDAQ [...]