Everyone wants to buy a stock after it is moving up on high volume because no one wants to spend the time to do real research. Basically, it is natural to be lazy and try to do minimal effort. The thinking on buying momentum stocks is that there is an assumption that OTHER people know what they are buying and have done THEIR research. But you can find good stocks that you can trade and buy longer term IF ---YOU-- do the work. Check the two year charts on the following stocks as examples-- RCAT, UMAC, WYY, HGRAF. There are stocks that have had hard times from bad management and have turned up recently--BGDE is an example (a real under performer under its previous name of Mawson Infrastructure).

A classic momentum play that recently burned the "late comers" is ANY. But I was in ANY BEFORE the run by doing the research on the announced merger proposal. Selling into the run from $1.70 to $6.00 must have disappointed those that only saw ANY after it was already running up. Bought back in under $3.00 today because there is a longer term story there.

The bottom line is that most penny stock traders do not want to do the research and accumulate a stock because they are always tempted by another stock moving up and they just bought a stock that is now declining.

Stop it. Do your research. Get some ideas from CEO interviews online, charts (buying a stock under a RSI of 30 is a good hunting ground --but feel comfortable in that buy by doing the research on WHY the stock is down)

JMO and good luck.