NEW YORK ( TheStreet) -- I remember when Howard Stern yelped on his radio show about not taking a "f---ing pay cut" from Sirius XM ( SIRI) during his contract renegotiation.
That head-fake had "buying opportunity" written all over it. I immediately went long and made a few pennies off of SIRI. Almost every time I see the blurb: "BTIG Media's Richard Greenfield out with a cautious mention on" Pandora ( P), I add several shares to my long position on the ensuing, but usually temporary, weakness. If you pay attention, you can make these educated, qualitative guesses and potentially set yourself up to do well on both short- and long-term trades. If you have a history of listening to Stern, you knew full well that his comments meant one thing and one thing only: A new deal was only days away. Buy the misguided and hysterical weakness. If you keep track of Pandora and Greenfield, you understand that, for some unknown reason, the BTIG analyst appears to have the type of dislike for Pandora that renders his opinion on the stock useless. He has become the Wall Street analyst who cried wolf. Along similar lines, it's often profitable to keep your eyes open for mass emotional reactions and irrationality by investors and traders. In other words, be on the lookout for people who dump stock when Stern does what amounts to a "bit" and Greenfield provides his latest specimen of hack analysis. Consider Madison Square Garden ( MSG) stock, particularly the way it has moved to the beat of Jeremy Lin. Short story, even shorter: Lin went on a run for the MSG-owned New York Knicks that excited sports fans. That propelled the stock. Of course, if you were smart, you rode this wave. The catch here, though, is that you were buying a solid company; MSG should have been rising with or without what New Yorkers dubbed "Linsanity." However, investors absolutely should not be selling off MSG stock because Lin decided to sign with the Houston Rockets over the Knickerbockers. As of Thursday's close, MSG has taken a considerable tumble from its recent 52-week high. MSG data by YCharts