if anyone wants to give it a try http://www.videocopilot.net/tutorials/
watch the light streak tutorials there. there pretty simple if you have no camera movement in your shot. but that looks no where near as cool. but by watching those tutorials youl understand how to do that (if you dont have camera movement).
with camera movement you have to create a new null for movement of whatever your tracking plus a new null for camera shake/movement. with the two nulls parented correctly you will be able to keep your emitter on whatever your following while changing the position of the already emitted particles which will compensate for camera movement
"tracking null" goes to your light streak null and the camera shake null is then parented to your particle layer.
i cant even explain where im getting stuck but i know its something to do with reverse stabilizing my footage before doing any of this. so im just playing around with that now. im so close but i just worked on it for 3 hours tonight so im done for now but il work on it some more tomorow.
also he does something to his streaks to make them watery looking i think he does it with the effect ccmercury but i havent played around with that at all yet.