Written by: Beck

1) People are idiots
2) Idiots are entirely predictable.

The evidence: an expert witness who testified against Martha Stewart has been indicted for two counts of perjury. Result? Martha Stewart Living Omnimedia (NYSE: MSO) jumped 20%, then came right back off as people realized that it didn't make a lick of difference. First of all, MSO has already canned their flagship TV show. Second of all, Martha has been fired from the company. Yet this is how people react.

Hit the bid, ladies and gentlemen. Hit the bid.

Update: You always know when a market is ripe for suckers when the mainstream media jumps onto the hype and then gets half their facts wrong. I wonder how many amateur player longs got stopped out by randomly chosen limit offers, wet themselves with excitement, and bought right back in at the top. I could go on, but I have a hunch my audience has already deserted me.