How do I play the earnings?

Some investors and traders like to hold a stock through its earning since they love the thrill. My strategy is to decrease my shares significantly or close entire position before the earning, except that the market is in a red hot situation that will make people forgive the negative side of a story and only pay attention to the positive side. Right now, we are certainly not in a hot bull market, so you know what I will do if I hold a stock that is gonna announce its earning.