Believe it or not the big boys of the trading world (market makers, specialists, hedge funds, etc) prefer to accumulate on the down swing, cause if they tried it on the up swing, they would be buying against themselves, and if no down swing is present, create one and forcing the weak hands to sell!
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If you are a fan of the BBC, this is scene from 'Only Fools and Horses' at the poker table sums up the stock market game very well. Bluffing, trickery, cheating and the winner takes all if you are not caught! ha!!
"When I couldn't play according to my system, which was based on study and experience, I went in and gambled. I hoped to win, instead of knowing that I ought to win on form." ~ Jesse Livermore
"To me, the 'tape' is the final arbiter of any investment decision. I have a cardinal rule: Never fight the tape!" ~ Martin Zweig
"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." ~ Nobel Laureate for Economics Paul Samuelson
"It's not what you own that will send you bust but what you owe." ~ Anon
"A market is the combined behavior of thousands of people responding to information, misinformation and whim." ~ Kenneth Chang