Excuse the lack of knowledge but I have a question.
I just spent around 2 months waiting to turn on BIOF. It jumped the other day and I sold. Only made around 600.00. So I wanna go another route.
I went to Yahoo and found an Earnings Report schedule. It shows you when the Earnings will be announced, and what time. I'm using this as an example, Merrimack Pharma will announce earnings on Monday before the Market opens. Is there any way to get a good feel if the report will be positive or negative? If I was confident it would be positive, I'd dive in today on that stock. Do you guys use this method at all? Im sure if this was a great way to short gain, a lot of people would be rich. Seems to me like its a shot in the dark. What can you guys tell me about this, and any help is appreciated
You'd have to research the fundamentals to get an idea of their earnings. Thousands of investors do this.
Check out this website:
Basically a site where people post their estimates for earnings on companies and you can get a feel for an overall average. You can check out previous calls by certain users on there to see if they're good/accurate and follow their future estimates for earnings plays.
Of course, that's still speculation. In the end you should really do the research yourself, but it's a good site to help.