Jim Cramer: These Once-Momentum Stocks Will Run You Over

NEW YORK (Real Money) -- Momentum cuts both ways. You either have it or you lose it -- and when you lose it, the momentum doesn't come right back. I'm talking about Mobileye  (MBLY) and GoPro  (GPRO) , both of which suffered serious reversals in their shares Monday.

When these stocks are running, everyone knows to own them. When they get hammered, nobody knows what to do. When they reverse, people want their hands held.

You can't hold anyone's hand on a momentum stock. It's liable to get blown off.

Now, I like both of these companies. Both of them are developing ecosystems -- Mobileye for all sorts of vehicles and GoPro for those who want to cut movies of their own exploits. Mobileye's getting designed in to so many autos that you can feel the excitement of the darned thing. GoPro has become a cult stock that has a product cycle going for it -- soon to be in stores! -- and shorts are going against it without stock to borrow.

Here's the issue: When you have this kind of supply-related selloff, it often doesn't pay to get in front of one of these freight trains when they go in reverse. These kinds of names just aren't the first to bounce. That's because many of the people who are in these stocks are in them simply because they are going higher. The prices aren't earnings-based, like so many of the companies whose stocks that got sold off in order to free up funds for buying into the Alibaba initial public offering. These companies don't have real multiples. They just have stocks that go higher until the shares are stopped and thrown for a loss. Then the momentum goes the other way.

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