Learn This Strategy And Be On The Right Side Of This Trade!

Martha Stewart was released from prison early Friday morning, just after
midnight. Traders and investors reacted to the news by placing buy orders on
Martha Stewart Living
(
MSO |
Quote |
Chart |
News |
PowerRating) before the open. The stock shot up to 37.06,
making its intraday high on the second 5-minute bar (in a Shooting Star candle
pattern), only to close at 30.75, down 3.20. This is a classic case of “buy on
the rumor, sell on the news.” MSO began its stellar rally just before Ms.
Stewart reported to prison for her 5-month stay. The media hype over Stewart’s
release has been nothing less than amazing–although not altogether unexpected.
This is also a great example of Larry Connors’ “News Reversal” strategy, found
in his book

Street Smarts. Learn this strategy and you’ll be short, not long, the
next time you see something like this.

The New, Improved
TradersWire

If you haven’t been in TradersWire for a while,
swing by next week–you’ll be pleasantly surprised. We’ve made a lot of changes,
including precise buy and sell alerts on stocks and E-minis and Mini-sized Dow
contracts, expanded education and trading tips. And as always, there are some
good traders in the chat room. I’m not ashamed to say that I’ve learned a lot
from some of these traders through the years, and I’m willing to bet you could
learn something, too.
 So
come on by, we’ll
see you in
TradersWire on Tuesday!

 

Big Cap
Earnings Announcements for the Week of March 7th