Caution: Wall Street Rumor Mill in Overdrive

The rumor machine has been in overdrive the past couple of days. Traders should be cautious and nimble. Today's rumors include: Harley-Davidson (NYSE: HOG), Whole Foods Market (NYSE: WFM) (both private equity speculation). Yesterday it was: Potash (NYSE: POT), B/E Aerospace (NASDAQ: BEAV), FireEye (NASDAQ: FEYE), and Skyworks (NASDAQ: SWKS).

It appears the rumor mill being correct on a Hershey Foods (NYSE: HSY) bid weeks ahead of time is driving this action. Also, a slow holiday Friday.

Most of these new ones won't pan out.

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