earnings report

Hi guys i was wondering everyone's point of view about holding positions over earnings releases, when trading a short term discretionary system. Do you hold the position or find it too risky and sell in the lead up?

I was exploring if one was able find any tell tale signs before an earnings release. I came across AWP which were going to release their report on Aug 11th @ 4.30pm http://www.bloomberg.com/news/2011-08-11/alumina-first-half-profit-jumps-53-on-higher-demand-prices-1-.html When I looked at...

21-Jan: The US market ended the week with heavy losses, as both GE and Citigroup failed to meet investor expectations in their latest earnings reports. Despite an increase in sales, Motorola was also unable to satisfy investors after producing a reduced profit outlook. A sharp rise in...