I'm long the stock with a big position. I still think the MMs are going to shake the trees and wipe out weak hands before there is a serious run up if the rumors are true. That's generally the way they do it.
I would not be surprised to seem them take the bottom out of this thing sometime soon and watch it drop to the $5ish range as a head fake to grab cheap shares especially if the deal is going to be announced by STX at 2.30 p.m.
If there really is a deal and it's announced at 2.30 p.m. today the MMs haven't had enough fun with this just yet IMO.