How often do you see one company acquire another, at a 24% premium, and see its own share price pop by 7%?  Answer… not very often. On a day when the market is down big?  Even less often.

Here’s the PR:  Lattice Semiconductor to Acquire Silicon Image for Approx. $600 Million  oh, and LSCC is now +15%; very strange indeed.

I had tentatively held LSCC and now need to go look into why the market perceives this as such a nice marriage. Strange stuff on a gloomy market day, including in the Semiconductors, where Intel is eating away at my gain in Lattice.

Even stranger, all of my Biotech holdings are green, as are the miners. The miners I can see, given continued deceleration in economic data, but it appears people are pile driving the Biotech’s and doubling down on momentum in the face of bearishness elsewhere. But the broad market seems to be making some decisions here folks. It is a strange and bifurcated market.