InterDigital Inc (IDCC)

[Thanksformusic]

Alley: A few questions/comments:

*The IBD rule of thumb on losses is to close them out around 8%. If you were short and the stock were to jump on news from Nokia/Samsung, how much covering would you anticipate? I’ve heard that some of the shorts can be adamant, stick to their rules, wait for a pullback, etc. Having said that, there’s a fine line between being strong in your beliefs and financially foolish; therefore I would have to believe that a good percent of those five million (est.) shares would cover upon the news. What are your thoughts on timing, % of loss, and the estimated covering you would expect? In saying this, I’m aware that some individuals and institutions may take the quick profit, thus (possibly) allowing shorts to cover at a slight discount after the initial jump. The obvious other side to the equation is the possibility of some quick additional coverage, with even greater institution purchases. Would you believe the professional would adhere to rules and cover before individuals would?

*Assuming you were strictly trading and not a buy/hold individual, is there any reason to believe this could break out on the upside of the price channel index without significant news?

*Market in general – Do you see any corollary between the Japanese stock market bubble and today’s Dow? Any thoughts on a mini-bubble similar to a few years ago (i.e. Ask Jeeves)?

*Comment: I very much appreciate your objective analysis and demeanor that you present to the board.