Sold Spectrum Communications

I decided to close out my position in Spreadtrum Communications (Ticker: SPRD) today at $30.40 generating a net gain of 1.80% over a ~ 70 day period (~9.30% annualized return). It’s not a great return, but I did use leverage so the return is actually higher (too lazy to calculate right now). It looks like this closing may take longer than what I had anticipated. According to the company, regulatory filings were made in late August for PRC approval. Going through the regulatory process is a slow process in China so I don’t anticipate anything soon, but I’ll continue to keep a close eye on this one.