Qualcomm (QCOM)

Company. Qualcomm "known throughout the wireless industry by pioneering and commercializing CDMA wireless technology [used by Verizon Wireless], is now leading the world in the development of CDMA2000 (1X and 1x EV-DO) and WCDMA (UMTS) — the two most widely accepted International Telecommunications Union-approved 3G standards." (company website)

Buy. I bought Qualcomm in March at a time when the stock appeared to be trading sidewise. Although the months-long upward trend was weakening somewhat (gently falling ADX line), I believed / hoped that QCOM would eventually break out. Even if it didn't, I reasoned, there was still enough movement to turn a profit on a very short term trade.

After an unsettling at the beginning of the following week, the anticipated breakout occurred.

Sell. Nokia warned today that its quarterly results would be at the low range of its guidance, and the entire telecom industry took a hit. Although Qualcomm didn't suffer terribly, I decided to take the profits that were available to me. $3.75 per share is not to be sneezed at.

I suspect that after a day or two, the market and QCOM will get over today's hiccup and continue upward. And for that I am ready with another lot of QCOM shares bought at an even more advantageous price!