After much gut-wrenching action and analysis, I decided to take profits on Motorola (MOT) after owning it in most client accounts for almost two years. The stock has rebounded from $19 to over $23 since the company reported its excellent second-quarter results and raised guidance. I still think that MOT is back, and the Street is finally giving the stock some respect, but I am concerned that some of the data points indicating a tougher second half for handset sales may prove true. Two colleagues at StreetInsight.com that I really respect, Tero Kuttinen and Bob Faulkner, have discussed this possibility. I suspect that MOT will continue to gain share and any modest handset market weakness won’t impact it. In the end, MOT has been a tough stock to own, and now that it has moved up back up to a level more in line with its strong fundamentals, I don’t feel I have an edge. Northlake’s ETF-driven strategy only leaves room for a limited number of individual stocks. Conseqeuntely, I try to only own stocks in which I feel I have an edge. That is no longer the case for MOT so it is time take the sizable profit and move on.