Phil, while I respect people who get into stocks because of FA, I'm not one. I came to EGGS only because of TA. However, my guess is that what you know from briefing books, SEC filings, etc. is all that you can know at the moment. Steve Harmon, who has recommended EGGS since its move to the internet, estimates quarterly earnings at -.35 (http://isdex.yahoo.com/isdex/) but won't recommend purchase above 20 until the company reports.
I think you are quite right that EGGS is in a position to fashion its report as positive or negative. Presumably, it will be cast positively (if XCIT, CNET, AMZN, etc. use wink-wink accounting, surely EGGS will as well). If you looked at the proxy filing (linked in an earlier message) you'll see that over 10% of this stock is owned by brokerage houses. My guess is that after earnings release, those houses will issue positive recommendations. This is why I closed my short positions yesterday & will not be short going into earnings, but, given TA on EGGS, I believe any spike after earnings must be sold short.
Kip
From DJ yesterday --
Elsewhere, Egghead.com (EGGS), the software retailer
that announced plans earlier this year to close its stores
and sell its products exclusively on-line, has a market
cap of $517 million.
The company hasn't turned a profit in three years. But its
brand name is well known among computer enthusiasts.
Shares surged earlier this month on the coattails of the
sector's larger players to a year high of 29 1/8, about
three times the stock's July 1 trading price.
"People see something like Egghead come along, and
they suddenly see a chance to make money. But there is
nothing fundamental about it. The only way you can
place a fundamental handle on it is that the companies
people have poured money into have not disappointed
people yet because there are no fundamentals yet. So
the fact that there are no earnings or huge revenues is no
big deal," Ram's Matthews said.
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