GameStop’s massive move has been the talk on Wall Street this week…
A short squeeze set the stock to rally up to a high of $145.59, an incredible 238% since Jan. 21. Based on momentum indicators, the WealthPress team was able to foresee the run and recommend it to our subscribers to most of those gains.
But chasing stocks that make these huge parabolic moves is not a sustainable strategy.
Finding value with a longer-term horizon while understanding momentum and shorter-term trading is always your best bet. Don’t chase stocks that are up huge because of the fear of missing out (FOMO) or you’ll get stuck holding the bag as prices fluctuate.
As Joy of the Trade’s Jeff Zananiri says you would “rather have a racehorse you have to reign in than a donkey you have to kick in the a**.”
Watch my full interview with Midas Letter founder James West and other WealthPress traders to see our trading and risk mitigation strategies.
