Now you watch: this board will explode with the old adages of "GO WAMU!!!!!" and "LOAD UP NOW WHILE YOU CAN!!!!", when in reality, we're in no better of a position than we were a few days, weeks, months, years ago. The PPS has changed, sure, but that only reflects the level of relative "investor" confidence in this stock.
There are bull runs, people hoard shares, then the PPS drops as people start realizing "oops, I jumped on the bandwagon--again!". They lose money, then desperately hold on to their shares because they're clinging to the idea that seeing red right now is just temporary; the stock will soar to the moon, that's what the boards say, so hold on tight and just eat the losses. A lot of people (especially on this board) go one step further to feel better and they cover down on their portfolios and lower their average entry. Scoop up more shares at a lower price to make up for the bandwagon buying they did earlier.
At the end of the day, speculation drives greed which drives our internal desire for money. It's impossible to be objective about this stock if everyone only reads the positive posts on boards like this.
In fact, I'm surprised that my posts weren't deleted. A few months ago I posted a similar prediction that the post was instantly deleted. Confirmation bias is alive and well on these boards and other boards, and it's imperative that we understand basic rules about stocks like this:
- RSI doesn't lie
- When everyone is saying "load up!" you should pause
- When everyone is pissed off and calling this a worthless stock, you should buy
People who are buying this stock for short-term gains are making a killing. People who are buying this stock because they think it will "go to the moon" are just throwing money at a big money hole.
