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Technology Stocks : Emulex, What Prospects? -- Ignore unavailable to you. Want to Upgrade?

To: Kevin McKenzie who wrote (605)	8/26/2000 7:19:04 PM
From: changedmyname	Read Replies (1) \| Respond to of 788

You are right, your analogy is far from perfect. to say that: "It wasn't like buying a stock on a buyout rumor that turns out to be true. It wasn't like buying a stock on a technical bounce." is incorrect. The ONLY reason there is such a big deal about all this is because it was EMLX... a large company that is a favorite of both the street and momentum investors. Sure you can make a case that what happened with the newswires posting the info was not the norm, but stocks trade on rumours and unconfirmed news everyday. Had this been "Jason's P&D Stores" (JPDS), no one would've cared. It might've gotten a casual mention on cnbc or on the last page of the WSJ, but no more that that. While fake press releases don't happen everyday, there are hundreds of "legitamate" pr's that are BS news, misleading (outright lies), or put out by some firm that a company hires to pump their stock. Many of these things lead to companies running up several hundred percent, hurting investors as much, if not more, than this whole emlx debacle when they come crashing back down. I'm not saying that what happened was right... but to me, it's all part of the game.... risk. I see no ethical dilemna at all... it's not like I'm taking money from a bank, or however you put it. Someone paniced, didn't bother to do the dd on the original release, and dumped their shares to me. Hey, it sucks... but I had the sense enough to check out the story and see it looked fishy, and I deserve the money... not the 15 year old kid that sold his shares to me. Consider it a lesson learned to him... take the lumps and move on. Next time he'll use his head better. This story smelled for SOooooooooo many reasons. And how does one distinguish between a hoax and a rumour? Aren't they one and the same? A hoax is "an attempt to trick or dupe one into believeing..."; isn't this what a rumour does? If someone posts that JPDS is going to get bought out on Monday, aren't they attempting to mislead the public and create buying intesrest? All this person or persons did was use much more elaborate means. And I doubt it was just out of fun... most likely for profit... and I would bet offshore somewhere where it won't be easily tracked (unlike CNBC that keeps saying how large orders went off at the CBOE after the open). Regards, Jason