My Stock of the Day is Qualcomm (QCOM). I was going to highlight URBN, which is making a strong continuation breakout on rising volume. But QCOM looks like it is closer to emerging from a consolidation.

The stock got a boost this morning from chatter than China is close to issuing 3G licenses. Also, the company said that it is going to move into the laptop connectivity space, which is a large and growing market.

This has the stock rising nicely today, on a big increase in volume. There is some near-term resistance around $41.75, which is the area where the stock will run into its overhead 200-day. But money flow and relative strength are both turning upward, which should help.

Other stocks making notable, high-volume moves include:

• NVO
• FTEK
• UARM
• AXR
• OMG
• IAAC
• GROW
• NTSK
• HSIC
• GMRK
• CNC
• ROK
• CHAP

long QCOM, URBN