Recent stories have suggested 15-goal striker Demba Ba could leave for as little as £7million or that Andy Carroll, who was sold to Liverpool for £35million 12 months ago, could return to Tyneside for £10million.
Pardew knew interest in the likes of goalkeeper Tim Krul, Ivory Coast midfielder Cheick Tiote and skipper Fabricio Coloccini could leave owner Mike Ashley and managing director Derek Llambias with difficult decisions to make.
He would like to keep all three and add to his squad with a central defender and, after the club rekindled its interest in Paris Saint-Germain's Mevlut Erding, it appears a striker is also on his shopping list.
However, Pardew admits the rumours surrounding Ba and Carroll have proved an unwelcome distraction as he attempts to land his own targets.
He said: "Our fans are sold these smokescreens and it's not fair on them.
"They just want to have honesty and the truth in both those is far from what has been portrayed.
"We are trying to get the best possible players with the budgets we have, and we are working hard at that.
"[Chief scout] Graham Carr does a terrific job for us, as his scouting team does and as my staff do, so on that side of it we are really trying to cover everything we can.
"It's difficult. If one of the big players makes a move, it stimulates the market, but it looks like everybody is jostling as usual and hopefully we are not going to have this last-day scenario, or the last few days, that we had in the last window which really affected us.
"We have made it clear to all the clubs that if there is any business to be done with us, you had better get in quickly because obviously we are stained from last year.
"But looking around and speaking to other managers it's very difficult to get value in this window and we are all a bit wary of that."
Pardew has studiously avoided identifying the players he wants and was equally reticent when asked about Manchester United counterpart Sir Alex Ferguson's confirmation that they had turned down a bid for troubled teenage midfielder Ravel Morrison.
Indeed, he insisted he was not aware of any offer, although he admitted talks might have been held at boardroom level.
He said: "It's important for us to keep what business we are doing in house.
"There has been no communication, certainly from manager to manager, but sometimes these deals at football clubs are taking place behind the scenes.
"As far as I am concerned, there is no definite bid in from us."
In the meantime, Pardew will concentrate on Sunday's Barclays Premier League clash with QPR and the task of ensuring the seventh-placed Magpies remain in touch with the top six.
He said: "There is a little bit of pressure from below, but there's also a little bit of pressure we can apply to the teams above, so the result might be that it galvanises us into a really good performance."
Rangers will arrive in the north east with new manager Mark Hughes at the helm, but skipper Joey Barton, who joined them from Newcastle during the summer, is suspended.
Pardew, who will have midfielder Danny Guthrie back from a groin injury, said: "It's a bonus for us because Joey knows the place and he knows how to perform here. He was very, very good for us."
