I jumped in it at the eod yesterday and got stopped out this morning. In terms of iterative refinement, maybe entering stocks that have earnings anouncements during the day would not be good plays to enter. Stocks breaking out teh following day of an anouncement seems like fair game though.
Check your notes, Bug. We covered this a few years back. See this post for the following quote: - Spydertrader
http://www.tradethenews.com/weekly-calendar.asp this is also a good website to check for earning stocks. Now, the thing is, neither this site, earnings.com, yahoo, zacks.com, or clearstation are full-proof. as sometimes earning dates get changed and one source might not have updated on their end... so i usually run the utility you guys were talking about.... i run all 4 sites, and check the company in yahoo to see if there is a headline about a company announcing their earnings at what time... and i also use the site i pasted above as a quick way to weed out some stocks. also, when you run the utilities, dont just check for company with earnings of the same date of your trading date.... remember to check the ones with previous day's date.... a lot of times earnings come out at the afterhour in the previous day... and price can get pretty volatile at the open the next day, because generally there are 2 ways to play earnings, some people get in at 4.30 or 5pm right when the earnings come out, while others wait for the next day to see how the stock is trading in the premarket, or even right after it open the next day before they enter into the stock. Just something to watch out for. I have made it my mission to weed out these earning stocks, because i'm generally pretty consistent, but when i do make the mistake of getting into an earning stock and think that it's going to go up, suddenly the mafia at goldman sachs turns the table on me and drops the price down 2 dollars. maybe someone is trying to knock down the price to get more shares for themselves.. who knows.... but usually my record is pretty consistent, but when i do have a loser, it's a big one... and 80% of the time it's because i didn't know that it was reporting earnings. Watch out for these timebombs. the way i see it, yo might win a few, but when you do lose, you are going to get hurt bad. and what's the point of taking the risk when you have no control at all. best of luck to yall
LOL....i am a type of person that likes to learn from my own mistakes......for some reason it is the way it sinks in best for me.
Turning out nicely. FTT does occur in any market/stock provided sufficient liquidity! right spydie? Im thankful I played no HANS; short now? hmmm
Follow up to this post. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1462796>