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Again, this is not a knock on skycop, but the I fund shot up 2.6% in the 4 days following his "What were u thinking" comment. When someone chimes in like that, someonewho doesn't understandour (should I speak for myself?) thinking (contrarian, buy fear, sell euphoria) it is usually a great sign that the market will go against their comment.
I spent many years trying to trade stocks not understanding this concept. Iwould buy a stock that would go down relentlessly, and just as soon as I couldn't take it any more and sold, it would bouncealmost immediately.I began to read about it and learned that a point comes wheneveryone whowants to sell has sold, there are no more sellers to pull it down anymore. So, if you feel the pain, it's time to buymore! When you start calculating profits on a winning trade, it's time to sell because sure as sh*t, it's coming down.
This information could help trim years of confusion for someone new to this. I liken this to buying a stock when you hear good news on a company only to see itdrop. You shake your head in disbelief. That goes along with "Buy on the rumor, sell on the news." The markets are continually humbling andit tends to make people wrong, particularly at tops and bottoms. When something seemsobvious,play it the other way.
Tom