      There are a number of ways that a trader can capitalize on TheOvernight Effect. The first is to buy after the close/before the open onInstinet. This is by far the most dangerous strategy. When consideringwhether to enter a long or short position in a stock after the close/beforethe open based on a news release that has been made public after theprevious day's close, the trader must evaluate how much the stock hasalready moved. He or she should also consider the probability thatovernight buyers will take their profits either at the open of trading orduring the first 15 minutes of trading. Remember that for the most part,only professional investors have access to pre- and post-market trading.Therefore, it is quite likely that these speculators will choose to lock inthe easy money and forego the more risky possibility of a continuation intrend.