He is a
momentum player who should be full of confidence after his superb runner-up spot at Deere Run and it would be no surprise to see him in contention once again on a track he plays well.
Momentum Player is the highest-rated contender here, having run creditably over sprint distances, including a close second to Warrior Wings at the Curragh last time.
"
Momentum players can take a call to play this market but they have to know when to pull back before the reversal of flows," says Gubbi.
Merk explained: "The Chinese don't have many places they can invest and so they have been buying real estate - including in California where I'm based - and they buy gold, so bitcoin is something they can jump on to and of course if the price goes high it attracts other
momentum players.
"[These increases] are by no means small amounts and so there is a bit of profit taking going on from the
momentum players," said Saleem Khokhar, head of equities at National bank of Abu Dhabi's Asset Management Group.
"FX short-term players and
momentum players were short and something like this that alters perceptions in any way, whether you believe or not, leads to people covering their risk.
This is because a lot of
momentum players are invested in such stocks," says Sharmila Joshi, co-head, private client group, Emkay Global Financial Services.
What ensued were successive waves of buying by sophisticated and unsophisticated
momentum players.
Day traders and other
momentum players took the stock as high as $22 per share in the weeks following the IPO, but it soon settled back into the $8 to $12 range, where it has traded ever since.
These so-called "
momentum players," the memo said, were now taking their profits and selling the stock.
We had a lot of shareholders at that time that were what you call
momentum players. ...
"We're not
momentum players; we tend to buy stocks on a dip rather than on strengths.
