1.   Competing momentum funds are down substantially this year.

2.   Di Teresa said things began to turn against momentum funds in June.

3.   First, critics complain that by paying scant heed to macroeconomic conditions, a momentum fund cannot pick a turnaround situation in the offing.

4.   Ni Growth, a small- to mid-cap earnings momentum fund, is volatile, they noted.

5.   Russ Kinnel, equity fund editor for Morningstar, says aggressive momentum funds such as the PBHG family, make sense in a portfolio, in small doses.

6.   The only thing that worries me is the really high-flying communications stocks tended to be held by momentum funds and those folks are in net redemptions now.