Sometimes you are in and out of the stock several times. Buy cheap and wait a little while until drilling is about to begin. On hype with the volume sell it. When it pulls back sharply and the day traders take their losses, buy it again for a bounce up. Just before drilling sell it again and short it or wait for bad news and then short it.
Momentum trading focuses on limiting losses and maintaining liquidity.
It assumes there will always be another stock buying wave to surf.