Quote:
Originally Posted by Whosonfirst
I've received no less than five emails from Seeking Alpha and Money & Markets today alone touting this bank. I don't understand why BAC has always been so widely covered and touted over the years, except that institutions all have them in their portfolios. They've had a two year run-up, but look like they're in for a correction to my eyes. I will avoid going in either direction with this stock that trades 50 MM shares on a typical day.
Two other companies I'm following as momentum plays are Cognex and MDXG.
Walgreens (WBA) is one I'm considering, again for momentum, not contrarian plays.
Meanwhile JNJ and NKE keep chugging along both making nice gains, contrarian has now shifted to momentum.
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It's starting to feel like 2000 all over again. Just dumped my MDXG, was up 44.5% in a few days. Everything going up like rockets is making me nervous. Took my profits in JNJ also, was up 13 straight days. Lightened up my QQQ's also.
