3SOF

setravis, nice pick!!!  = applaud =

I spent the weekend looking for stocks to diversify the gains from NVAX (I bought SANM on Friday).  jpm also started a MB thread on 3 stocks (SANM, FNSR and CNXT today!) 

http://www.3stocksonfire.org/trading/index.php?topic=3476.msg30976#msg30976

Since I am a short-term swing trader, I pulled a "narrow" 4 month chart instead of more "broader"  6 month chart.  Here's my repost:

"If you look at the CNXT chart below, there is some concern there.  10 MA is moving up away from 50 MA with spiking gain activity.  Volume is maintained, but decreased with last two trading days.  Although MACD is in positive territory, RSI is above 70 indicating "overbought" condition.  If you look at mid-July when RSI was above 70, it was followed by a decline in price.  With recent "spiking" gains, it would be reasonable to anticipate some profit taking."

Also, If you look at the 2 year Yahoo chart, CNXT is at $2.32 with 52 week high of $2.34.  If CNXT breaks through the 52 week high and stays above, it would be great!  I believe, often the 52 week breakthrough is accompanied by "nervous" selloff until the breakthrough has been confirmed.

However, when I pulled the BarChart.com "composite indicators" it is "lit up" with all 100% BUYS!!!   

I also pulled the MSN stock rating (I am not sure how accurate MSN rating is for this short-term swing trader, but for longs, got a good rating!)

Once again, nice pick!

IMHO, Good trading!

Great post LiveLife, I applaud you for you work !
Looking at a 2 year chart on CNXT, I also like the fact that this has formed a
Head and Shoulders Bottom (Reversal) Pattern.
Just IMHO I think this stock is on it's way to making new highs.
Support @ $2.21...2.07...2.01...1.97

Recent CandleStick Analysis
Very Bearish
Nov-03-2005 Bearish Doji Star .....But as is always wait for further conformation.

Technicals
Most Actives
MACD is Bullish
Stochastic is Bullish

Last Price Quote is:
15.41%above 13-day EMA
25.31%above 50-day EMA
RS Rating: 95 

Fundamentals
Key Data:
Market Cap (M): $1,098.31 
P/E Ratio: NA 
PEG Ratio: 3.01951 
Next Earnings: 01/25/2006
Last Analyst Rating: Buy

and Transmeta coments,please

Thanks setravis! 

I may have to do a 3-5 way diversification with SANM, CNXT, FNSR, TMTA, CBMX, and even NVAX for rebound!  Decisions, decisions for Monday 

If SANM has a nice gain on market open, I will probably take profit and do a "diversified" buy back...they all look very promising!

jpm, I did the analysis for TMTA here:

http://www.3stocksonfire.org/trading/index.php?topic=3476.new#new

On CNXT my comments can be found here.
Have had a thread on this stock since July 2005.
I hate to have to do a re-write here, go here if it interest you.

http://www.3stocksonfire.org/trading/index.php?topic=1207.msg30986#msg30986

Thanks for putting up your thread on CNXT setravis, more information and analysis is always good 

I think, like Melf Elf said, that those candlestick and gap considerations were just plain wrong. The candle on Friday clearly shows this gap is not to be closed over the short term, well, it's a breakaway gap !

This means higher and higher prices are to be expected for CNXT. Also note that the NDX closed at a new 2005 high, which is amazing, given all the negativity there was just about a week ago. Shorts will cry covering their positions at new highs, but what can they do now, fight the market? 

It looks like I was too optimistic at my last update on CNXT. The stock opened higher but couldn't hold on to those gains and fell on profit taking.

Technically the picture continues to b bullish so I see no reason to take profits here. Perhaps that gap between $2.18 and $2.21 will be filled after all, no problem with that.

I see CNXT possibly hitting support today and recovering from those support levels, which stand between $2.16 and $2.21.

But I'll continue holding anyway, this kind of volume on this particular stock and the general market bullishness at this moment tells me CNXT's advance won't stop at $2.40.

The hourly chart says it all - bounce off the new ascending trendline from the original breakout - I think there is little to worry about for now, just healthy profit taking.  CNXT should continue its run, just watch for a break below this trendline.

Quote from: ScottishTrader on November 08, 2005, 11:35:47 AM
The hourly chart says it all - bounce off the new ascending trendline from the original breakout - I think there is little to worry about for now, just healthy profit taking.  CNXT should continue its run, just watch for a break below this trendline.

I generally agree with ScottishTrader's analysis. It was a good thing CNXT held $2.17 on a closing basis and the candlestick left on the chart suggests the short term correction is over. We'll see about that. I'll continue holding.

Sorry guys I think the downtrend occurred when I decided to buy in at $2.34. Ouch! Anyway, going to hold in there.

uc.

Just to show what I meant - the ascending trendline I drew yesterday is still holding, and we may even be forming a small ascending triangle with resistance at 2.18 - the bottom of the gap from the 3rd November.

Hopefully we should see it break above this today 

hi ,
re entered cnxt this afternoon based on my swing trading plan . looked like a nice strong close . this chart shows a safe entry point at the 25% point.  as i am an advocate of the new 3sof fast i will look to get out around the 100% point or higher ( not shown on this chart).
nice swing chart on this .
thanks.
maxi

oops wrong way around on the last chart
sorry
max

Nice reaction to the support zone from CNXT. Also some insider buying at $2.11 (how did the insider got the low of the day???  I wish I knew that much  ).

Volume wasn't great, but still 6 million shares plus. I think there's nothing to worry about, CNXT is one of the strongest semi plays on the market (in technical analysis terms) and I'll continue holding it.

Let's put the crystal ball in the closet for now. because when the chart is talking, it pays to listen