Just google this phrase "Buy on the rumour and sell on the news." I did that and got over 66 millions hits. http://forextrading.about.com/od/forexfaqs/f/rumornews.htm
Question: What Does 'Buy the Rumor Sell the News' Mean?
Answer: Buy the rumor, sell the news is something that happens in most markets, particularly financial. Sometimes traders trade based on what they believe will happen in a given economic report or event (the rumor). Once the event passes or the report is released (the news), they dump their positions and the market moves.
I will say this here since the thread is closed. Below is what you said since code in not allowed in this part.
"Of course. A rumour based economy makes a lot of sense."
You obviously don't know the stock market that well. There is a well known saying that says, "Buy of the rumour and sell on the fact."
I don't know if you caught my apology in the rants thread but I'm sorry I haven't replied to your PM yet and I do intend to get to it. I want to dedicate ample time to (re)write it because you deserve a thorough answer that's better than what I can throw together in class or between classes.
Might I interest you in inviting you to Beyond the Lampshade which a place of humour and debate? It is my primal forum; a community very close. Consider for great justice as there is talk by the admin for a multiplayer game of Civ5.