Buy on rumours and sell on news? Who does that ?If you do , does it really work? 
Comments welcome,
thank you.
It would appear nobody around does it.
I think it’s more of a popular saying than anything; in any case, it’s pretty much impossible to test how such a portfolio would perform.
How would you backtest acquiring the rumor? If you can find it online, then it’s already news.
The reality is that there are bigger fish who have access to information sooner and can execute trades faster. The unfortunate truth is that retail investors can’t really beat the manipulated market in the short term- unless they have inside info themselves (which is obviously illegal to trade with this knowledge)
It seems like, it is impossible to achieve the impossible