Centillium Communications (CTLM)

Company. Centillium "designs and markets communications chipset solutions for central office equipment, digital subscriber line access multiplexer (DSLAM), digital loop carrier (DLC) line cards, and customer premises equipment for Digital Subscriber Line (DSL), Voice over Packet (VoP) and premises networking." (company website)

Buy. Centillium reached a bottom in December and started to climb. I bought just after a mild pull-back on a day of heavy volume.

Sell.

General comment. Yesterday's announcement by the Fed triggered a general sell-off in the market. The Nasdaq continued the downward trend through the first six hours of today's session. Fearing that this might be the beginning of a substantial Nasdaq correction, I decided to sell several Nasdaq stocks to preserve whatever gains were still left, even though the stocks had been doing well before yesterday's slide.

By the time I sold CTLM, it had pulled back up from the low of the day. Until yesterday, CTLM was doing well. I believe this is a temporary setback and it will be worthwhile to jump back in again after the market sorts itself out.