Of course they'll sell on news. Because they think EVERYONE ELSE will sell on news. It's an automatic, self-destruct thing. One hundred years of tradition untouched by progress.
*sigh* It's hard to reconcile these knee-jerk reactions with some of the wealthiest people in the US, isn't it?
It's like watching a stock rise above its 200-day MA. You buy then because everybody in the whole known universe will buy then. And the reason they buy at that time is because YOU'RE going to buy at that time. So naturally the price rises as buying pressure is put on the pps, and then everybody says, "See, it always goes up when it crosses the 200-day."
set rant mode=off
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