Let's not be so naïve as to think that the market was stampeded by unnamed "sources" stating that PFE was not going to bid. I don't think that anyone imagined that PFE would be an active bidder. This was a staged bear raid. Whether the intent was to pick up shares cheaper or not will become clear eventually. I still feel that the arbitraged price is 134. I think that options expiration tomorrow will tend to drag this up. I look for another dip at the open, which I will buy into. Still holding all my pre-AMGN shares, plus another 500 bought at the close. Our prior 47 point bump makes this easy. I traded the movement today and lost $860 in my regular account (tax deductible) while making $880 in the IRA. I think that someone is playing games, but that all of the danger is on the short side. Big fun.
Sources have safeguards from getting sued by SEC. Preet Brahrara told CNBC--if you read the full transcript given to a reporter--they always a statement-- I think,I hope,I expect---not attributing it to any co.This is a normal trick by hedgies--which is difficult to proscute although a modified LIE.