BJ, LOL I thought you knew better with things like JTANE. IMO there is only one way to play those "explosion momo's", sorry TWO ways.
1. My way, which is to just sit back and watch the craziness, and AVOID buying.
2. Have an MM account, and your MM broker on the phone BEFORE the pick, get the pick the instant it is mailed or put up on the site, buy wherever he can get a fill quickly, and the second you are filled, have him start looking for buyers at whatever you are comfortable, not greedily, trying to make, then watch the volume start to slow, and short the sucker.
Oops, #3 - just short the sucker, especially when it hits, up 10,000%.
I've watched enough of these now, to know that they just DIE a quick and horrible death, like a free faller, who's chute doesn't open. Rarely do you get an MM whack down to cover, you just get people bailing as fast as they can. |
