Here’s Some Classic Momentum
Momentum stocks are just
that…one day they’re hot, and a day or two later they’re not.
Actually, quite often it takes a lot less than a day
for the ‘momo’ to go away–but while it’s still evident, you’re more than likely
to still find a classic entry where risk and reward can be defined by something
other than the madness of crowd behavior.
12:57:34
Intraday Setup Alert
Traders aren’t throwing Mamma.com (MAMA)
from the train….just yet. With the momentum issue up 4.70 at 8.75, MAMA
has formed an intraday Cup & Handle pattern on the 5-minute chart. Triggers for
continuation longs might be considered thru pattern pivots of 8.87 or 8.95.
‘Choo choo, all aboard’…including mama.