Twenty years ago their was no such phrase as downrampers, as everyone who was congratulating themselves for owning stocks in the dot com bubble were simply referred to as rampers in the constant procession of " look at me " "how clever am I to make all this paper profit" " I must be a stock market expert" "this is going to the moon " "all time high nothing but blue skies ahead"
For those of you old enough to remember, many of these stocks lost 90 per cent or all of their value as they were purely momentum without any fundamentals to support the price .
Of course the "experts " were conditioned to "buy the dip" and kept averaging down.
That works in an expanding economy and raging bull market but in the dot com crash many "experts " lost everything including homes and families and a not insignificant amount took their own live's.
Stocks which are dependent on "future profits" and " pie in the sky" projections often appeal to the greater fool principle.
i notice the bulls of this stock are not buyers at this price but are "wishing" it higher in order to increase their paper profits.
For that to happen you need a continual supply of " greater fools " or inexperienced investors.
Sooner or later the greater fool principle is exhausted and I feel we are very close to that point on this stock.
APT Price at posting:
$58.69 Sentiment: Sell Disclosure: Not Held
