UPDATE: $CMC, $COP
Note: Many BTD followers are HOLDING CMC to exit point — If so retain long position; as for COP — maintain LONG BUY.
Heavy rumor activity continued today, as another set of rumors made the rounds this morning. Commercial Metals (CMC 17.41 +1.16) spiked to session highs following chatter Nucor (NUE 45.16 +0.32) could be interested in the co. CMC shares are now up 7% on the day. QLogic (QLGC 19.30 +0.28) shares showed strength following rumors the co hired strategic advisors, after hearing interest from a few parties. Another strong mover was Southwestern Energy (SWN 42.95 +0.74). The stock is up 4% on the day following a rumor ConocoPhillips (COP 50.87 +0.14) could be interested in the co. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.