RE: Open price place you bets4 Jul 2021 22:57
Bonkers, well said.
The thing with some investors, is that they forget that there's a wider world out there of other shorters, long termers and traders. I'm going to share a story. I mentioned cineworld to a few people I know and one in particular who I provided pension advice to ended up buying about 3 weeks ago, maybe longer when it was in the 90s (not under my advice/recommendation). I just told them that I'm invested and because I can see what trades they are doing, I noticed the buy. However, they sold after a few weeks, maybe less.
I say all this to say, that there's millions of people trading and recognising potential. Some/most get it wrong. I think we underestimate that sometimes and when there's falls in the sp, it's down to various factors. Certainly, traders who buy high and sell at a loss contribute to this. There's definitely times where the sp is under attack and people can't hack it, then people start selling which can snowball.
We aren't out of this phase yet imo, until there is a strong boost of say 10-20%.