The normal wisdom is that bad news comes out on Friday's after the close. Good news usually is timed to be out early in the weeks for stockbrokers to be able to work the stock as much as possible while it's still in the news. The worst news is often seen on the last trading day of a holiday weekend.
The long weekend is thought to permit shareholders time to digest the bad news, rather than selling as soon as they hear it. The stock may be down dramatically when it opens after the long weekend, but rather than sell at the bottom, many investors who might have sold on the news will wait in the belief that it will recover, and often it does.
I'd be thrilled if prior to market open on a Monday or Tuesday the announcement of TLD was made, that's what would really kill the shorts as the price moves up dramatically before the market opens, perhaps with a delayed opening because of an imbalance of orders. That's a gap up that will never be filled.
Gary
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