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Technology Stocks : Rockwell-Spins off Conexant (CNXT)
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To: MeDroogies who wrote (1062)5/11/2000 7:46:00 PM
From: David W. Taylor  Read Replies (2) of 2013
 
The clue with CNXT and the market is that they are more linked than they appear. If you watch the ticks in real time then CNXT tends to plunge as the market does and rise and the market does......until today.

My guess is that a lot of day traders trade this stock and react very quickly to overall market signals.

CNXT has been one of theStreet.com's RedHots for a while now, which either causes the day traders to notice it or now that it is noticed, respond to it.

The action today was unusual and not a good sign. Once the market has had its plummet next week, after Al G does his 50 basis point thing, it may finally get to the $20 range, where I would start agreeing with the "steal" thought.

It hit $39.50 just before some big fund painted the tape upwards at the close.
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