Today, CSCO released earnings at 4:30pm. They increased revenues but net income was lower because of a charge. In after-hours trading, it is DOWN about 4%. However, I really do not think the news is that bad, since income was down due to a charge... Tomorrow morning, I would like to open a position. Do you all think this afternoon's trend will continue down, or will people realize that the news is not that bad when the market opens and the price will rise? I am totally confused. In a situation like this, would it be better to buy it, or short it? I know I could also not do anything, but I am just curious to your opinions.