Reported earnining but less than expected at 5 pm. I am shorting the stock. Should I wait for the normal market hour to take profit?
No-one can reasonably answer that question for you. We don't know what your game plan was. Personally I try to avoid holding any stock when its earnings are announced. It is the most dangerous time to be holding. For the type of high relative strength stocks I play there is an asymmetric effect of earnings. Bad earnings can really tank them and good earnings tend to have much less of an effect. Therefore my avoidance at that time.
I know holding thru the news is risky but may be rewarding. Just do not know if the price moves better in the normal hours.