Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Approach Resources
So what: Usually a stock jumps after an earnings report, but Approach's investors are betting before the numbers are even out. It could be that a whisper number is out on the street, or it could be the rising price of oil today that has investors cheering.
Now what: Whatever has buyers moving in today, I don't see a big reason to get excited until we know exactly what earnings looked like in the third quarter. If it's a whisper number out on the street, then we're already behind the 8-ball. And if it's just traders betting on a good quarterly report, that's a gamble I don't want to take.
I'll sit out the move today and check back in after the close when management gives us something solid to invest on, like quarterly numbers.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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