Many of you have emailed asking more questions about the earnings breakout. I have written extensively on it previously for last 18 months or so. There are no major secrets to it. It is just plain vanilla step by step process.
Lets look at today. I went through the IBD earnings list on page A11. Noted two stocks meeting the earnings criteria of 100% plus growth AZZ and SLP. Looked at their 65 days growth. Both had rallied in to earnings. AZZ has less of a rally. AZZ was anyway in my list of stocks which have reacted positively to earnings in previous one year.It had earning acceleration some quarters back. So I see no opportunities for today.
The earning season is just staring so opportunities will present themselves in next 4-6 weeks. I do not listen to earnings call, or any other thing, I look at just the earnings, previous price action and put selected stocks on watch for next day. If they have high volume breakout in first few hours, I buy.