By Ann Sosnowski

Good news for WaveStrength Traders today: Barron's is bullish on The New York Times Company (NYT:NYSE).

Since I've been harping for the past few weeks on the resurgence of the print newspaper industry due to its ambitions to partner with online companies and Web sites, you can understand my excitement when Barron's published a positive article on the valuation of the print company over others in its industry.

The article, entitled “Ink-Stained Opportunity” and written by Andrew Bary, cites Morgan Stanley's challenge of NYT's dual-class share ownership structure as a good thing. Bary believes it will force the chairman and CEO to improve the company's financial performance.

(In case you don't know, dual-class shares are when there are two types of shares traded -- (Class A) and non-traded (Class B). Those who own the Class B shares are usually involved in the company and retain decision-making opportunities. In NYT's case, the Class B shares represent 1% of the open interest in the company.)

In this case, the families that have the Class B shares are Adolph S. Ochs, who bought the Times in 1896… and his great-grandson Sulzberger.

Weak advertising revenue is pulling NYT down, which is why its deal with Google Inc. (GOOG:NASDAQ) to offer advertising spots to bidders is a step in the right direction.

According to Bary, even though NYT Class A stock currently trades for $24 per share, it should be worth about $35 per share if it can start reporting better earnings over the next two years.

Also, the company's real estate may be worth $850 million, and The New York Times alone is worth $3 billion “more than 11 times next year's projected cash flow of $259 million.”

Additionally, NYT's purchase of About.com for $410 million in 2005 is now considered a good move, as it's worth a lot more today than what was paid for it.

And compared to other print newspaper companies, which are all exhibiting similar daily chart formations that I set out in a WaveStrength Trader alert, NYT is the best company to invest in if you're betting on an industry renaissance.

With the help offered by the Internet and tech companies, I'm definitely on board.

Barron's write-up on NYT popped the company's stock up over its 200-day Moving Average, giving WaveStrength Traders as much as a 30% gain this afternoon… after only holding the call position for only five trading days.

Congratulations WaveStrength Traders!

In other market news, the Dow Jones Industrial Average is on the rise again, bringing our upside DIA position back near breakeven. It looks set to hit another new high this week.