Don't worry-- I find that the Yahoo boards-- while they are full of sludge -- often have news faster than SI. And rumors galore! Cramer on STreet.Com wrote this:
"Go into Goldman and lift him on 5,000 PMC Sierra (PMCS:Nasdaq). Then take
5,000 from Morgan Stanley. As soon as you got the word from Morgan, storm
Merrill Lynch and Smith Barney for 10,000 shares each, and then start it all over
again with Goldman. That way nobody has a chance to recover and they will all be
battling each other to cover the short! In the meantime, I will tell my friends at
Meteor Fund to do the same and you give the story to MarketWatch.com or post
on Yahoo!Finance that PMC Sierra is going to get a bid from -- who would make
sense? -- ahh, how about Finisar (FNSR:Nasdaq)? They are closed now anyway."
Yep, it is a mouthful, but that's Buzz Gould at work taking up PMC Sierra. You
think stocks go up 16 points on fundamentals? Nah, it takes shenanigans like
getting market makers to short stocks to you, and then spreading rumors that
something is going on, to get others to pile in to really get a stock going. These
kinds of things happen regularly now at the end of the month with the stakes so
high.
Painful, huh? But that's how money is made in the mo-mo world on the last day of
the counting period. Given that Buzz and Batch have about 300,000 PMC Sierra
shares to begin with, they will pick up 4% alone on this stock today. Brilliant, isn't
it? |
