Let me start by saying that I'm not accusing you or anyone else on this thread of anything. That said...
I know from personal experience...
...that people can and do LIE about being long
...that cheerleaders aren't necessarily on your side
...that the major holders sell when they say they are holding strong
...that those that appear wise and good can be snakes
...that panic is the result of "irrational exuberance"
...that spikes are usually sharper down than up
...that shorts will cover during on back side of a spike and don't get hurt
...that more people claim to have certs than actually do
...you can't trust anyone during a "squeeze"
That's why I don't support "cert calls" or "squeezes"
Now, in regards to level 2, my point was that level 2 makes it easier for traders to see when a spike has run its course and bail when it has. This only contributes to steepness the down side. Also, Level 2 users are usually larger holders because, if they can afford it, they have more cash available for trading. And, users of level 2 are more apt to be momentum players because they need it to keep track of the subtle changes in the market. Again, I'm not accusing you or any particular level 2 user of doing these things.
Also, the 20x was just a number that was being thrown around. I did not intend to accuse you of anything there. It could just as easily be 10x or 5x.
Finally, I know that you have been an advocate of "gradual rise" and applaud you for that.
Regards,
George
BTW - Although I am slightly in the red on a previously mentioned stock, I do not consider myself burned like many were... and I did gain much experience in this area, which I don't wish to repeat. When this kind of talk started here I sold enough to cover my initial investment and although I might not make as much as I could have, I absolutely positively won't get burned. Like I said before,
Don't trust ANYONE during a "squeeze" |
