Mathematically, free carrying is a bad thing to do, but psychologically it is very satisfying, most people don't understand the maths involved, and thus it's very popular.
Similarly, buying after the run has started (like I recently did with QPM) goes very hard against typical human psychology, but it is very effective. Making this move requires the acknowledgement that you are not buying at the best time and you would have been better off buying earlier, and typically people would have been considering it during the few days previous to the right time to buy, without actually buying, so it triggers an 'I made a mistake yesterday' instinct, which prevents people from making the best decision.
And of course this is similar to selling; the Mathematically best time to sell is after the price has started dropping, which is psychologically very difficult (I experience it too); it forces you to take a lower price than you could have sold for the previous day, or previous few days, again, forcing people to take an action which will trigger an 'I'm stupid for missing out' instinct, which the human brain is hardwired to punish with considerable pain and regret. Read Hot Copper and it's absolutely littered with posts clearly demonstrating these psychological phenomena, with all sorts of weird excuses, denial and attacks on anyone who points out the reality the majority don't want to see.
But, hey, during a rally, everyone is happy and loves each other. Except for shorters, who are unanimously despised at all times by everyone, probably including their own mothers
For now, let's enjoy the good times
