Selling The News Are You? Bought Disney

Fans are going crazy for the new Star Wars

Though I am not very keen on buying stocks at all right now, I couldn't help but trade Disney (DIS) following the opening weekend of Star Wars. Like most highly-anticipated events, the market had priced in excessively high expectations and the "buy the rumor sell the news" phenomenon occurred.

Though I have not seen the new Star Wars yet, I've noticed it has received excellent reviews from critics across the board. This makes me think fans will see the movie multiple times. Also, I saw the demographics from this opening weekend were astonishingly (sarcasm) skewed male 70-30. Maybe, just maybe some females will go see it.

Also, Star Wars won't be opening in China for a couple weeks. China has the 2nd largest market for movies.


Disney (DIS) Daily Chart

Right now I see this as just a trade, taking majority of profits off above $108.50-$109ish. If perhaps my sentiment on the market changes I would consider holding 20-30% of my position longer term. 

DIS Intraday 5m

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Disney (DIS) Earnings/Revenue