Timberrr

The smarter retail holders are quickly running to the exits to lock in their profits.

The dumber retail holders are sitting there like a deer in the headlights not knowing what to do.

And the really dumb retail holders (those who bought in the last week), well, they probably can't even bring themselves to check the share price, or are telling themselves old Buffet investing adages like "my ideal holding period is forever"...right. But the difference is Buffett never buys shares in a company that is already up 1000% in a couple of months.

And the smart institutional money who decided the fate of the share price are currently gathered round watching this mess on their screens with a champagne glass in hand because their short positions which they took last week are doing exactly what they always do - play pick-pockets from the pants of the retail holders. Except this time they have ripped the pants off them entirely. Well done to the instos I say.

This is so reminiscent of the dot com crash.

It only took a single innocuous catalyst to cause the drop in the sector. In this case it was the PayPal announcement. As meaningless or as meaningful as that was, it was still a catalyst.

If you thought a 15% fall in one day is bad, how would a 30-40% daily drop make you feel?