Earnings Season!

 Earnings are upon us once again. I figure you love you it you hate it. I think I love it, just because you'll get more action from names that usually don't get quite as much volume and they can have nice moves.  Last earnings, I felt like I was just beginning to really get into earnings and the fundamentals of what is happening whereas before I would just trade off of levels using technicals. I think understanding the fundamentals just allows for more confidence and conviction in the setups that you'll see. I like the idea that there is a trader in "Unknown Market Wizards" who only trades earnings and the rest of the time he is studying and preparing for earnings. Luckily earnings comes 4 times a year. I mention earnings because I'm trading things that have earnings. I think you have to be pretty careful in general because plays that aren't going with the market will struggle. They may work, but they will likely struggle. Maybe they'll work better a day or two later when the market decides to go the direction the stock wanted to go. Also I think it is important to note what is happening in earnings - an example being one bank has ok earnings but drops, next bank has ok earnings and drops, then what do we think will happen with bank three if it has ok or not so good earnings? Drop. So questions I have are, what are things that you look for during earnings? Are there percentages beats or misses that have A, B, or C importance to you? what about guidance? What weight do you put on estimates put out by analysts? I honestly don't have any set system for earnings yet, but these are all things that I look at. Right now it's more of, "Well, that's a lot! I would guess that it has more chance of going up," and then I look for levels and setups and watch the market/sector/etc. movements.  Working on it though. Alright I'm done. Cheers!