When people get beat they blame the 'bots' as well.
Forget 'bots' and 'manipulators' and crazy conspiracy theories,they do your head in.
There is a poster called Chartrader.
He was well known on Investorweb.I assume its the same guy on HC.
He is very, very good at T/A .
He would mention a stock and everyone would pile in.
9 out of 10 times the stock would fly (meo yesterday??)
And if he said he was out,everyone would follow suit and the stock would drop.
That is just one guy on the internet.
When a stock like BNB takes a hit,it is because some large holders decide to sell.
They decide that the stock has risks and they simply reduce their exposure.
Other people see this happening and think if they are selling,then we will sell.People assume that the seller must know 'something'.
Most times it is fairly orderly.
Sometimes it turns into a feeding frenzy.
Some brokers have a 'sell' on a stock and other brokers have a 'buy' on the same stock.
Some investors have a higher 'risk' tolerance,some people have a 'low' risk tolerance.
It is just the market.
We are in the early stages of a bear market.
Don't forget our market is off nearly 1300 points.
We are due a reasonable bounce that may last 6 months or so.
Election years in the US are usually bullish.
What could trigger a rally?
Talk of interest rates dropping?
An actual interest rate drop?
A big fall in Oil prices?
The doom and gloom is reaching some type of crescendo(remember I am a bear)so it wouldn't surprise me at all to see the markets much higher towards the end of the year.
I note Morgan Stanley came out last night and said they expect a rotation out of Energy stocks into Financials.
What can I say?
I predicted that last week.
we shall 'C'
PS BNB could be worth a punt at these levels if we do have a reasonable rally.So long as you consider the risks.
