Quote:
Originally posted by Daval
[B]RADIOSHACK (NYSE:RSH) Quote data by Reuters Edit
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Standard issue. Beat expectations, but it's already giving some of the gains up. Let me tell you a story about earnings volatility:
A couple of years ago, a buddy of mine was running a trading desk. A suboordinate of his put all his prop cash in one company, claiming he "knew" it was going to do great. My buddy told him to sell it, NOW. So the guy did. My buddy happened to have a small position, and the following day when earnings came out, they were positive, and the stock went up. My buddy probably made about 2 grand. His underling would have made 20 had he not been ordered out. He bitched at my buddy, and my friend threatened to break the guy's nose and fire him. Why?
"Earnings are bullshit. It's a fucking crapshoot. Some of mine were up, some of mine were down. You want to gamble? Go to fucking Vegas. Just make sure you pack up your desk when you leave."
The point is that nobody knows how a stock is going to do at earnings. You can guess, and sometimes you'll be right, and sometimes you'll be wrong. I say leave that shit to people who can a)afford to lose, and b)have the liquidity access to get out of a bum position.
Bob