To an extent. And there is a good reason why they are prevalent on this website. This comes down to similar psychology to why retailers can move stocks quite substantially (take a look at some of the meme stocks). Retailers are easier to influence on accepting a loss or buying into euphoria as they are subject to the emotional aspect moreso than an institution. Though I was speaking generally about some of the motivations of chartists on forums like this.
It is worth noting that the amount of investors/traders/etc that interact with forums has been increasing, with one platform, TradingView reporting at least 1 in 3 use stock forums, and that was in 2021 https://www.investordaily.com.au/markets/49071-one-in-three-retail-investors-swayed-by-social-media
As we have seen we can see the scenario played out quite frequently here. Take for instance this user: https://hotcopper.com.au/members/w3hunter.215089/
Projections on trends result in increased volumes and unsurprisingly movements in those trends. This is certainly prevalent on more illiquid stocks. However the following and momentum that can be generated should not be understated.
Certainly the larger the stock with large institutions involved actively, say Wesfarmers, for instance the influence generated from a forum like this can be drowned out. But then this comes back into building the "brand". The bet on say, wagering that a stock price will go down after a CR, can generally speaking be a safe bet. This adds to the "credibility" of the user as their presence gets proved out.
The strategy here is using the crowd. Garnering an influence on a forum and using that to eventuate movements. Say the aforementioned poster with the 1000 followers were enticed to set aside $2000 to aim to profit off the strategy of a particular stock this poster was fervently posting projections about, say in the positive. That's $2m of capital ready to be utilised and deployed on. That's more volume than ~$200m+ stocks see in a day. And lets say they have their "in" trader group, of which is in their best interests to collaborate together to get in early, set aside extra liquidity for the pump to suck in some retailers for a deadline. This I know for sure occurs, however anecdotal.
I certainly agree with the take you have, as with Soros. Given we can use viewing charts, to an extent, to observe phenomena such as bubbles and other distortions. My opinion is more the motivations, reasoning and prevelance to the "chartist" concept, especially on websites like this. I am aiming to dig in further on this in a data-driven way.
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