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.
Dewey Burchett, RIA, says, "When the Nasdaq Composite failed to sell off further after the opening, traders were forced to cover and momentum players
got on board as well.
This week's reporting docket presents a blend of companies from different industries, ranging from 'growthy' momentum players
like Tesla (Nasdaq: TSLA-Free Report), to former stars like Whole Foods (Nasdaq: WFM-Free Report), and blue-chip operators like Pfizer (NYSE: PFE-Free Report) and ExxonMobil (NYSE: XOM-Free Report).
Typically, the last sector to rise is always the first to correct because a lot of momentum players
are invested in such stocks.
They're not momentum players
, so they're searching the U.
A0x20The stock of this company is highly ranked, a good value and loved by momentum players
Each of these sectors has now cracked important uptrend lines on the charts on hefty volume -- that will make the momentum players
more reluctant to jump in.