I call that bounce trading, buy in hard at the bottom of a flashcrash or just before big news hits, wait for pump, sell 2-3 mins later just the investment you put in, getting back the value and leaving any 'profit' in the coin chosen, now you can play 'for free and with no risk'.
Pretty exciting stuff dumping a few k into a 5 minute trade and walking with $500.
Can burn you as well. Still exciting. :)