Blogger, VC, cool dude, fellow Canadian and fund manager Howard Lindzon wrote the following brilliant observation at his blog:
"The harder it is to estimate and analyze an uptrend (or downtrend I guess but don’t practice), the better your chances are of success. You fish where the fish are."
He was talking about Twitter specifically and social networking in general but the idea holds true for all types of upward revision ideas. Beat and raise is the sweet spot of momentum investing, especially when top line beats are leading to bigger bottom line beats. Too bad there's not much of it going on in this market.