Jim Cramer's Portfolios of the Week

Stockpickr Staff

According to Jim Cramer, Qualcomm(QCOM) is the key tell to future stock market direction. According to Cramer, some market players believe that tech is rolling over and that money flowing into the drug and foods sectors is the real deal. Cramer is in the camp that believes tech is just resting after some remarkable moves.

He thinks the market is at the beginning of a huge wireless-Internet product cycle, and that means it's time to buy stocks like Research In Motion(RIMM), Apple(AAPL), Palm(RIMM) and Qualcomm whenever these names sell off. Cramer advised investors to watch the action in Qualcomm on Thursday. Any attempt by the stock to close lower could mean the move in the Nasdaq is over for the near-term future.

Recently, Cramer found opportunity in smartphone stock plays, utility stocks and Nasdaq-based stocks. Here are some Cramer highlights from over the past week as aggregated from his "Mad Money" TV show, the "Stop Trading!" segment on CNBC and his RealMoney blog posts (these blog post require a RealMoney subscription).

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