CNXT - Sector: Technology --- Industry: Semiconductors

[Ramsburg]

Update:
Just when we thought we finally had the breakout, CNXT had to play with us one more time...  After reaching $2.04 on yesterday's session, CNXT tumbled again because of this news:
- Conexant raises senior notes offering to $275 mln

We are starting to be a bit annoyed here, so we are upgrading our stop level to $1.88, and wait for developments.

Trading Plan:
Hold CNXT with a stop @ $1.88

[Melf Elf]

Update:
Just when we thought we finally had the breakout, CNXT had to play with us one more time...  After reaching $2.04 on yesterday's session, CNXT tumbled again because of this news:

Frederick,

Yeah, that was disappointing to see CNXT stop at 2.03-2.04 minor resistance, when it looked like we finally had an upsdie breakout.

We are starting to be a bit annoyed here, so we are upgrading our stop level to $1.88 , and wait for developments.

I agree, especially with the "annoyed" part.   

1.88 would be a takeout of yesterday's 1.92 low, and it also would bust your up trendline, which looks to come in today at some fraction above 1.89 (I didn't calculate it exactly).   

Nice managing of the trade, Frederick.  Applause. 

[Melf Elf]

A breakout print of 2.03 "should" have some significance.  Minor resistance right there, at 2.03-2.04, then at 2.08-2.09.

Tha-aat's better! 

We just printed up to the 2.08-2.09.

[Ramsburg]

I agree, especially with the "annoyed" part.   

1.88 would be a takeout of yesterday's 1.92 low, and it also would bust your up trendline, which looks to come in today at some fraction above 1.89 (I didn't calculate it exactly).   

Nice managing of the trade, Frederick.  Applause. 

I'm not sure if I'm still annoyed... 

Are we expecting some bad news today during late session ? 

A breakout print of 2.03 "should" have some significance.  Minor resistance right there, at 2.03-2.04, then at 2.08-2.09.

Tha-aat's better!

We just printed up to the 2.08-2.09.

much better...
TA has been working, CNXT had been reacting on the support levels, lets hope this breakout will also generate some significant swing now

thanks for your inputs Melf, (applaud)

[Melf Elf]

I'm not sure if I'm still annoyed... 

Frederick,

No, we're not annoyed anymore.  At least for today.   

A breakout print of 2.03 "should" have some significance.  Minor resistance right there, at 2.03-2.04, then at 2.08-2.09.

CNXT spent most of the day near that 2.08-2.09 minor resistance, consolidating the technical breakout.  The close was the 2.08, on better than 2X 100-day average volume.  The stock is doing nice technical work.

much better...
TA has been working, CNXT had been reacting on the support levels, lets hope this breakout will also generate some significant swing now

Yes, quite a number of hits to those trendlines.  The top of the pattern will be about 2.01 for tomorrow, so it would be good to see that hold, on any re-test.

It would be better , to see it move higher, off the breakout. 

Overall, this was a real nice day for CNXT. 

Good job, Frederick!

[ScottishTrader]

Breakout! Nice

Lets hope we get some continuation....  next resistance 2.20.

[Ramsburg]

Update:
CNXT printed a new short term high, but didn't manage to hold and closed the session slightly negative. The ascending support is now standing near $1.95, so we'll just upgrade our stop level a bit more and let this trade running:

Trading Plan:
Hold CNXT with a stop @ $1.92

[Melf Elf]

Sorry for the "double post," but since the 3SOF Board isn't working (no REPLY buttons), I'll put this here, as well:

Thanks, David.

Let's temporarily use this folder if we want to say anything about the 3SOF Picks until the problem is resolved.

I wanted to post to Frederick on CNXT.  I mentioned yesterday that on any selloff, I'd like to see 2.01 hold, which is the top of the Symmetrical Triangle.

That  top of  the Symmetrial Triangle came in at 2.009 yesterday, so it held just about exactly.  That low was 2.01.

I agree with Frederick's stop.

Meanwhile, CNXT is indicated at 2.24 at the moment.  That's good. 

Target #1 is 2.26, the top of the Symmetrical Triangle.  I'll sell 25% of my position.  I like to take at least some profits when targets get MADE.

--------------------------------------------------------------------------------

[Se7en]

CNXT up 14% pre-market


Conexant's Advanced Semiconductor System Solution Selected by Motorola for Use in Next-Generation Set-Top Platform
Friday November 10, 8:00 am ET


NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Conexant Systems, Inc. (NASDAQ:CNXT - News), a worldwide leader in semiconductor solutions for broadband communications and the digital home, today announced that Motorola, Inc. has chosen Conexant's advanced multimedia processor and highly integrated network processor for use in one of its next-generation set-top platforms.
ADVERTISEMENT


Conexant will supply Motorola with technologies that improve the processing capabilities that exist in the company's current generation of set-tops. Motorola will incorporate Conexant chips as part of a forthcoming next-generation set-top product, which is intended to offer consumers a more flexible and compelling entertainment experience.

"Converging networking and media processing technologies are driving the demand for innovative new solutions that allow consumers to manage and control many different devices in their digital home network," said Lewis Brewster, Conexant chief operating officer, and executive vice president and general manager of the company's Broadband Media Processing business. "We're pleased to supply Motorola with technologies that will help enable these advanced new features."

"Motorola is committed to continually bringing innovative and compelling solutions to market to address consumers' ever-evolving desires," said Marc Kauffman, Motorola vice president, engineering, Connected Home Solutions business. "By incorporating Conexant processing technologies into our next-generation design, Motorola will be able to offer consumers the 'next level' of seamless entertainment, information, and communications, in and out of the home."

Conexant offers a comprehensive suite of digital set-top components and system solutions for worldwide cable, satellite, terrestrial, and IP entertainment broadcasting networks. The company's product offering includes silicon tuners, demodulators, MPEG audio and video decoders, and dial-up and DOCSIS modems. Complete reference designs that help manufacturers reduce cost and speed time-to-market are also available, bundled with a range of operating systems, middleware, drivers and development tools.


http://biz.yahoo.com/bw/061110/20061110005093.html?.v=1

[ScottishTrader]

CNXT lookin real good!!!  I think we have a breakout on our hands

I do have to agree though Melf, 2.26 looks to be key, and we may get a pullback from here after this big gap up, still CNXT (and a lot of other semis) really look like they want to run through Christmas.

[Melf Elf]

CNXT lookin real good!!!  I think we have a breakout on our hands

I do have to agree though Melf, 2.26 looks to be key, and we may get a pullback from here after this big gap up, still CNXT (and a lot of other semis) really look like they want to run through Christmas.

Scotsman,

Yeah, the breakout and yesterday's exact re-test of the breakout looks good, so this could be a "Gap And Go" today, but as you know, I always take a least some profits when targets get MADE, just in case it's a "Gap To Crap." 

Like Aussie said in the BBC folder: it's an "Insurance Play."   

Se7en,

Thanks for that news.

[Melf Elf]

Target #1 is 2.26, the top of the Symmetrical Triangle.  I'll sell 25% of my position.  I like to take at least some profits when targets get MADE.

Sold 25% of my CNXT at 2.26.  Gain: 18.3% (I paid 1.91).

THANK YOU, FREDERICK!    Applause.

[ScottishTrader]

agreed melf.  Just took a little off the table at 2.24.  There's a real battle going on on the level II....

[setravis]

The coil is getting tighter....
Could be ready to pop and rock.

BreakOut !
Target $3 to 5 stop $1.95. Breakout to a new local high. MACD positive and rising.


Technicals
Most Actives
Gap Up
Percentage Gainer

Last Price Quote is:
12.94%above 13-day MA
13.98%above 50-day MA
RS Rating: 92  

Fundamentals
Key Data:
Market Cap (M): $854.42  
P/E Ratio: NA  
PEG Ratio: 4.85  
Next Earnings: 01/24/2007
Last Analyst Rating: Hold

[rickjust]

hi,
iam looking for an entry around 213- 215 support.
maxi