I want to close my mutual fund but my friend told me to wait until all the 1st quarter earnings have been?

released, my ? is whats the best website to find this info & is my friend right? that i should wait cuz if my holdings havent released their earnings then i might sell my fund off without letting it reach its full potential. i already looked @ some of my holdings on msn money under finacial results & it seems like they have released b/c i c a number under the FY (12/07) column, am i reading this right?

There's no need to wait. Release of earnings can take a stock up or down, depending on whether they meet expectations, or might have no effect. The price of the mutual fund is, of course, made up of the different stocks that they hold.

What you DON'T want to do is buy in the day before capital gains are distributed, usually an annual distribution and often in the fall - then you'd end up paying taxes on the gain for that year.

There is no difference from selling at one time or another,anything could make the market go down at any given time, and anything could make the market go up at any given time.

If you don't like what you have or want the money out, SELL

If you need the money now go ahead and take your money out. earnings reports could have either a positive or negative effect on the stock market. Since mutual funds are allocated to hundreds of stocks some of the stocks in the mutual funds portfolio will be positive and some will be negative. So some of these reports will even eachother out, and the market and your mutual fund in general will move up or down probably at max a few percent so their is no need to wait for a couple of percent gamble. Remember markets also move down quicker than they move up so if you are satisfied with what you have now or dissatisfied and that is why you are closing it do not hesitate to withdraw your shares