I do trade event stocks, normally I do not check/read the news itself, even do not check the charts, just scan the market to get top gainers and top losers list, then based on my own expereince and knowledge about top losers/top gainers, judge the general market tone, target one to two event stocks, check intra-day high/low, then check current quote, decide go long or go short, I am consistently making good profits. so every day I trade almost totally different stocks. I think that is my edge. once people master the tricky part of trading event stocks, I believe it can produce consistent results just as trading the same stocks over and over.
the hard part about trading the same stocks is the same stocks are always changing whether daily patterns or trends. to me, most top gainers and top losers look similar, how they bounce back/forth or trend can be easily anaylsized, basically they just follow into several situations, so it is easy to trade them.