To: qwave who wrote (143345 ) 7/24/2006 2:57:01 PM From: Eric L Read Replies (1) | Respond to Long Positions (short, medium, or long term) ... % off high CYTD One Year Two Years Adding the Range to my YE ... CYE $51.25: 39.84-61.24 Message 22095308 I'm so tempted to take my 100% gain and run! Any thoughts? Only you can decide. If I were you (which I'm not) I would probably consider taking the gain, banking it, and investing it in NOK or another later (if you are inclined to do that at such time). I'm seriously considering locking in some profit from my long position established in July 2004 at a price not much higher than today's should we go slightly higher in the short term. I personally think we'll see a post earnings retreat, and a general retreat in techs and wireless sector at that time before they run again, BWDIK? (not much). I have reduced several techs at or near their 52-week highs, in the last month, while continuing to hold at least 50% in each case. boards.fool.com Diligent visual investor that you are, I'll be following you a little closer than normal in the near future because I'm seeking a reentry on my LT core QCOM position. A substantial GTC limit sell at $49.86 on ½ my QCOM position that I had placed some time ago hit yesterday before I got a chance to nudge it up, which I really meant to do. As much as I value my full QCOM position, which I will replenish. I am in no hurry to replenish. We might run a bit more in the pre-earnings ramp but I expect a decent reentry point to occur in between post-earnings and Labor Day. Over the years, if nothing else, I've learned that patience rewards, and that what goes up usually comes down before it goes back up. I might add that I sold ½ my large and much appreciated shares of QUALCOMM's direct competitor TI (TXN) on a much appreciated (+70%) year or so old position at $32.50 (as you know) to lock in profit not long after they issued Q3 earnings last year and never regretted it, and while it has never hit my lower reentry price target, and although it has been higher by several dinero than that reduction point, today it closed at $30.82, despite very positive mid-quarter guidance rendered a few days back that did not meet street expectations. Notorious sandbagger QCOM of course already had the positive upgrade already built in. boards.fool.com Full Disclosure (already reported here and/or elsewhere months to a week ago and 8 of my 12 somewhat reduced current equity holds are in my TMF profile). This is verbatim from an April 1 post I made to the Nokia board I moderate on SI: Message 22316255 Techs are enjoying a nice run but personally I took down NOK 50% on Thursday at $21.25, CSCO down 50% at $22 on Friday, QCOM down 50% at $49.86 a few weeks back, TXN down 50% at $32.50 late last year and recently sold 75% of the JDSU shares that I acquired last year at $1.35 for $4.10 and got out of my LU flyer altogether. These could all run higher into earnings and even beyond but I'm content to pocket substantial profit, and I think we'll see a tech pullback in summer. If we do, I'll probably add some of these back in some portion, but I officially retire on June 30, and consequently I'm in the middle of a complete portfolio overhaul with considerably more income orientation. Fifteen months ago I was about 50% invested in individual equities or growth funds - down from 80% at the end of 1999 when I started to pull back to cash, albeit not as quickly as I should have -- but by end of year that number [individual equities in tax deferred accounts as opposed to funds] will be 25% to 30%. I do expect a tech and sector pullback after CQ1 earnings are announced, even if we get a short bounce -- the usual stuff in a typically seasonal market as we head into the 'Dog Days of Summer' -- but I also expect a strong finish to this year by major players like QUALCOMM. boards.fool.com
