I am not saying anything new here, but ultimately no equity has...

I am not saying anything new here, but ultimately no equity has an intrinsic value. The only value it has is based on the tension between people who want to buy it and people who want to sell it - hence Mr Market and similar phrases. Buffett takes the long term approach and for example believes that people want to drink Coke and will for the foreseeable - if people want Coke then they will buy it and ultimately the share price should rise, but on any one day shareholders may be selling the Coke shares rather than buying - so their price drops.

With FML, it runs up and some sell based on charts, gut feel, need to lock in profit, need to minimise losses, fear, loss of hope, belief it is overbought etc etc etc - human nature. Those who wait for it to run up before buying, do so often because they see the run-up as a endorsement that sentiment has turned toward it (which by definition, it has) - would they have made more $$ buying earlier - yes, of course, but they either didn't have money to spend or "felt" the risk / reward ratio was not there yet. Never forget that this is a game based on rational and irrational human emotion, and NEVER fall in love with a share and be blinded to it's unpopularity to the masses.

I hope that wasn't like a lecture of the obvious - it is just my take on how this fun game works - good luck all. My sentiment is HOLD - because I have no idea if this will retrace, hold or run and I can't time it or call it. I HOLD as I believe the facts will hopefully lead people to keep wanting FML - yet I invest what I can afford to lose and no more as it could turn to dust tomorrow for no tangible reason!