gold chat, page-288

Skol...yes that chart illustrates very well what any trader worth their salt would know. You see it in just about any stock..especially speculative stocks such as junior miners.

Any trader with half a nous would have ridden the uptrend and gotten of the bus with their profits. Surely you are not suggesting they would have held for the entire ride?

Only a gambler..as distict from a trader would have done so.

Please don't get me wrong Skol..I do in essence and in parts totally agree with and respect your opinions. Knowing the psychology of the herd instinct is key to being succesful in trading. having said that, even the best don't get it right all the time. I have experienced just about every part of that curve..yes even the despair..but that was due to inexperience and gullability..qualities I try hard to train myself out of. Knowing where on the curve you are at is probably the most important thing you can know. How many traders jump in and are fooled by the greed stage?..more than what most would be prepared to admit I would suggest. The Poseidon nickle affair of the 60's springs to mind(as it always does for me)But thats just how the market works...someone has to lose money for others to make a profit.