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Sck5,
The reality is that very few people get out at a market top, that's what makes it the top. If many people suddenly became informed and got out a week before the top, the top would move back in time and happen earlier. The top of a market isn't a price it was destined to hit, the top is the very fact that everyone was buying and nobody was selling, so to wish everyone would have cashed out at the top is just wanting the impossible - who would have taken the other side of the trade ? If everyone knows the market is going to go down it's a bottom, not a top, because the market only exists in the minds of emotional human beings. A market top IS the very fact that few people know it's the top. It's simply a case where being well informed and in tune with the news of the day doesn't help you, because if the market reporters are talking about it, by definition it's already happened, group think is counter-productive. Said another way - of course everyone thought the market was going to go up at the top, that's why it's the top.
I don't feel like retyping a bunch of stuff about it, but it's out there somewhere.
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What are you pretending not to know ?
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