Roger Montgomery on Sirtex, page-157

Apparently buy on the rumor, sell on the fact (or just before a trial or whotnot is announced) is not an unusual plan for front foot trader types. Not me I'm always too slow. Buying at the start sets you to get carried up with all that wonderful promise, sell on the fact has them selling out just incase when it might be good news, or bad news, if its good you can just buy in quickly and up you'll go again, but if its bad well you side step the carnage and if its still makes sense buy in cheaper than you recently sold for. Roger did that, where as Hall (he's an arty old school guru you can read about in Masters of the Market) got caught out so needed to buy a ton more after the fall at the lower price to not make his average srx stock cost as high as it was seeing he expected the thing to pop on the announcement and was buying all the way up. As for the annoying school boy types all over this, don't forget this HC place is like that intergalactic bar in StarWars: full off weird and wonderful characters, some of more interest than others but all allowed in to take their seat.