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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: ronz28 who wrote (1662)	8/25/2000 11:16:52 AM
From: Louis V. Lambrecht	Read Replies (1) \| Respond to of 100058

ron - Comtex. Seems to be a 600lbs gorilla. comtexnews.net I usually trusted PR Newswire, but they even haven't mentionned it yet. (Dowjones neither, Ragingbull nothing, Blommberg at 10:28, quote.com fee service 10:50) the 10:10 first mention on Briefing.com (fee service) EMLX at $104 is timely enough for me, let them do the job of scanning the newswires. At 10.15 EMLX still printed >$100 Although, on min. chart, selling began at 09:57. A good way to look for a news service. Follow up from briefing.com: 11:14 ET Emulex (EMLX) : -- Update -- Appears that the fake Emulex press release began on Internet Wire, a privately held company that has a number of big-name VC firms behind it. Internet Wire is apparently positioning itself as a PRNewswire and Business Wire competitor, and notes on its site that its content is distributed to sites such as Bloomberg and Comtex -- these were the sources that trading floors mentioned for the news this morning. Unlike past hoaxes that were initiated in chat rooms, this one appears to have come from an actual wire service, which explains how it gained credibility so quickly. 11:03 ET Emulex Story : -- Update -- Seeing major bounce in storage stocks, as CNBC reports that Emulex (EMLX) press release is a hoax. Emulex shares still halted. 10:55 ET QLogic (QLGC) 85 -24 11/16: -- Update -- Getting hammered in sympathy with EMLX; Prudential already defending QLGC and others likely to join in soon. Other fibre channel stocks also taking a beating: BRCD -9 9/16, FNSR -2 9/16.