Gary Kaltbaum at Trading Markets (Bulls in Full Control article) and Mark Hulbert at Marketwatch (Transports lead the way, article) make points for the bullish case.
Stocks are skittish, often over-reacting to earnings. Stocks such as Estee Lauder (cosmetics) and C.H. Robinson (transport) both had huge jumps on better earnings. There are many other stocks where a few pennies better or worse move the stock a huge percentage. For a position trader, these stocks are moving too fast on the day of the announcement. The next few days often bring a much safer entry point.
Positions: long TXI, LEA, BA
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