In light of the news from Conexant(CNXT) I decided to average down my position from $2 to $.79 cents buying 1680 shares today before the split happens. I missed the real bottom but I couldn’t pass up this opportunity to get more of this spec play. They look to be turning things around and at $.50 cents a share its almost a crime.

I also took down another 300 shares of American Micro Devices (AMD) because I think next quarter’s earnings and full year earnings are going to be a surprise. They just announced a new quad core processor aimed at the mobile market and Computex begins tomorrow in Taipei.

In other news, Crystallex International (KRY) announced the resignation of its president and CEO. Gordon Thompson tendered his resignation likely due to increased pressure from the Venezuelan dictator Hugo Chavez regarding the Las Cristinas gold mine owned by the corporation. Permits to open the mine have been denied by the government which has angered shareholders who have been supporting the company.

Speculation is a healthy part of anyone’s portfolio but you want to make sure your risk/reward suits your investment and/or trading style. Often times I find myself fully vested and unable to make certain trades because of one reason or another. My 6-18 month time window gives me plenty of opportunity to find good entry and exit points however so it pays to be patient. Especially in a market as unpredictable as this.

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