      If you do feel the need to play on the long side during earningsseason, consider spread trading a positively correlated stock with a ratingof roughly 0.5 that exhibits a lag time in price movement. This willdramatically reduce your risk exposure. These opportunities are relativelyeasy to identify. Although the returns associated with spread tradingpositively correlated stocks are lower than those of just going long, therisk associated with the trade is dramatically reduced.