3SOF

Fantastic chart Terlisa 

I really wasn't paying attention to that inverted head & shoulders pattern, though I think Aussietrader did bring that up too. Thanks 

CNXT is just consolidating its recent gains, look at the volume structure, most people that bought on the long white marubozu are still holding for higher prices to come. After some digestion CNXT will make another run to new highs with the general market.

Just keep on holding, don't let profit taking shake you out of this winning position.

Hi fellows, I pulled up the long term chart on CNXT & what i noticed from this point is the descending trendline. As you can see, we already had that 1st & 2nd contact & i think it's possible to make that third contact there, precisely the closing of the GAP.  Because we got that H & S pattern & that gave us more confident for this play...but it looks like it's going to be a slow Dollar here as you can see on my chart... well, let's see what CNXT can give us... As david said market knows better... 

Terlisa   

Quote from: Terlisa on November 13, 2005, 03:24:34 AM
Hi fellows, I pulled up the long term chart on CNXT & what i noticed from this point is the descending trendline. As you can see, we already had that 1st & 2nd contact & i think it's possible to make that third contact there, precisely the closing of the GAP.  Because we got that H & S pattern & that gave us more confident for this play...but it looks like it's going to be a slow Dollar here as you can see on my chart... well, let's see what CNXT can give us... As david said market knows better... 

Terlisa   

$4 would be fine by me Terlisa 

CNXT is holding just above $2.17, consolidating a very fast bullish move it made 1 week ago. After some digestion it looks like we'll make new short term highs above $2.40 and that would lead to one more step to go and fill that enormous gap.

I'll just hold, waiting for that outcome to materialize, this is a bull market, you know.

I still perceive the last couple of weeks as a consolidation period after a big short term gain for CNXT. $2.17 is still holding, volume has picked up a bit but it isn't nearly as high as when the stock was around these levels 5 days ago. This tells me the selling pressure is abating, less people wants to get out at these levels.

So, if I'm right, CNXT will soon make a white marubozu, maybe as soon as today. The perfect behaviour would be a lower open, perhaps at $2.17, and then a rise to a close at the high of the day, on volume above average.

Hi David:

Maybe wrong but once we got below 2.12 I decided to dump my shares at 2.10 and 2.11 - 12000 of them

This was a bad day losing a great deal on TRAD and I bouht more at 11.30 today; I keep RDCM even though its below 2.82 support; sold SMTX and half my VPHM which I bought at 18.09 and 17.31; still have a few more.

The big winner for me almost was ELN,as its done well all week - you might want to take a look. The other big winner was BTUI which I sold two days ago at 15.73 and I bought back after the big dump taody at 15.07/10. Hope timing is right on that

Also bought more HQSM at .47 today.

Be interested in what you will do after the lousy day we have had.

Are you still going to hold TRAD, as that is my largest position outside of ELN?

Thanks

Defenderyou

PS: Holding BMD of course as its my contest stock! Bought boy do we have some real pain in our stock list

I think CNXT will test the support area @ $2.00 before rallying up again ..

Quote from: defenderyou on November 15, 2005, 05:42:11 PM
Hi David:

Maybe wrong but once we got below 2.12 I decided to dump my shares at 2.10 and 2.11 - 12000 of them

This was a bad day losing a great deal on TRAD and I bouht more at 11.30 today; I keep RDCM even though its below 2.82 support; sold SMTX and half my VPHM which I bought at 18.09 and 17.31; still have a few more.

The big winner for me almost was ELN,as its done well all week - you might want to take a look. The other big winner was BTUI which I sold two days ago at 15.73 and I bought back after the big dump taody at 15.07/10. Hope timing is right on that

Also bought more HQSM at .47 today.

Be interested in what you will do after the lousy day we have had.

Are you still going to hold TRAD, as that is my largest position outside of ELN?

Thanks

Defenderyou

PS: Holding BMD of course as its my contest stock! Bought boy do we have some real pain in our stock list

I will hold all my positions at this point. These were corrections to supports in overall bullish trends, I believe. Perhaps I will comment on the rest of your holdings when I have some time. BTUI is at $15?  wow, I remember it at $8 not so long ago ... Metastock lost my «previous picks folder», I have to rebuild it by hand 

Concerning CNXT, unfortunately I was wrong and it broke $2.17. But I'll keep on holding, as it closed near the 50% Fibonacci retracement level.

Man, what a shake out yesterday was ... I hope I'm right and bull trends resume shortly. If not, at least I know I won't lose money in this bull campaign.

Another observation on this 1 year chart.
W e can see the Head and Shoulders Bottom (reversal) Pattern.
Now Looking at the chart, I see, what I  have put in this big blue circle.
Appears cup with handle formation nearing completion. There may be a slight pullback here as the handle completes on lighter volume. Look for new high on larger volume in the near term

Cup with Handle (continuation) Pattern.
The Cup with Handle is a bullish continuation pattern that marks a consolidation period followed by a breakout. It was developed by William O'Neil and introduced in his 1988 book, How to Make Money in Stocks.

As its name implies, there are two parts to the pattern: the cup and the handle. The cup forms after an advance and looks like a bowl or rounding bottom. As the cup is completed, a trading range develops on the right hand side and the handle is formed. A subsequent breakout from the handle's trading range signals a continuation of the prior advance.

As with most chart patterns, it is more important to capture the essence of the pattern than the particulars. The cup is a bowl-shaped consolidation and the handle is a short pullback followed by a breakout with expanding volume. A cup retracement of 62% may not fit the pattern requirements, but a particular stock's pattern may still capture the essence of the Cup with Handle.

Support @ $2.13...2.07...1.96...1.90
Resistance @ $2.34...2.41
MACD is Bullish
Stochastic is neutral

Technicals
Most Actives

Last Price Quote is:
1.36%above 13-day EMA
12.33%above 50-day EMA
RS Rating: 93 

Fundamentals
Key Data:
Market Cap (M): $1,060.44 
P/E Ratio: NA 
PEG Ratio: 2.70732 
Next Earnings: 01/25/2006
Last Analyst Rating: Buy

Setravis, (applaud my man)  ...
If you look at the weekly chart for CNXT, you can tell this baby will trade in range for a while before rallying up & close that big gap there.. i think CNXT is a bullish stock, so i'm just gonna hold my shares & be patience for now (time will tell)

Trading Plan for CNXT: Take profits at the closing of the gap around $4.03. As a safety net I will sell if the stock is set to close below the ascending trendline on the chart below. For today's session that trendline stands at $1.86.

I'm glad CNXT is coming back up after the 50% Fibonacci correction it made. The ascending trend will probably resume now. The trading plan continues to be:

QuoteTake profits at the closing of the gap around $4.03. As a safety net I will sell if the stock is set to close below the ascending trendline on the chart below. For today's session that trendline stands at $1.86.

On its way to 2.65 & starts filing the gap... goodluck next week

There was strong buying in the semiconductor sector, and of course, CNXT was no exception. Volume picked up to almost 10 million shares, the stock closed at the highs of the day and is now very close to the recent high of $2.40.

My plan is very simple and there's no reason to change it:

Quote
Take profits at the closing of the gap around $4.03. As a safety net I will sell if the stock is set to close below the ascending trendline on the chart below. For today's session that trendline stands at $1.87.

CNXT may face a little resistance at this $2.40 level. I hope not, and I wouldn't bet on it since the bulls are in control of the stock, but it may happen.

I see the stock trading within the ascending triangle below and then breaking it on the upside. Again, I would rather see CNXT break the ascending pattern right now, but I will be comfortable with some profit taking as well.

I'm changing my trading plan a bit, because I don't want to risk a loss on this 24% plus profitable trade at this moment. So I'll use a second trendline for hold/sell decisions.

Considering this, the trading plan for CNXT is:

1) Take profits at $4.03 OR;
2) Take profits IF the stock is set to close below $2.16.