Just wondering what kind of edge one might possibly have with a 'finger on the trigger' type of strategy by trading milliseconds after an earnings announcement is made. I'm just speculating here but I would imagine you'd need to physically be present at the earnings event or communicate with someone there because even the live conference call is probably delayed at least a tenth of a second or so. Secondly, I'm wondering what would be involved in finding a method of execution that's fast enough to take advantage of this and whether or not it would be available to any typical retail trader. I've been watching time & sales lately and looking at orders right after earnings announcements are made and it seems that there are plenty of people employing this type of strategy and I'm curious to find out who these people are and how they're getting away with it.
