People were happy that they made a quick buck. Many slept that they won. True.
But after that, like the aftermath of a tsunami, we see posts on the forum from people who bought almost at the end of the rallies.
They were hoping for a 2nd wave to strike. Alas! It's nowhere to be seen. They became losers.
They can be opportunists who were too late to react, who had no idea why the price went up suddenly, someone else might have told them to or simply, dumb money.
Why is this situation? Why is everyone looking for rallies?
Of course to become rich overnight.
Even though my experience in the market is just over one year, I learnt a lot. Through mistakes and otherwise. There is a lot to be learnt still. There are many with more experience, and they expect a reliable acceptable return of 25-50%. Of course there is potential for more.
This percentage is for one year. not a week or month.
When retailers are looking for rallies, the big manipulating fish invites them to their party. Then it is a case of pump and dump. How many times have we seen worthless shares going up for no reason, rights being traded at exorbitant prices and people not knowing what they even are.
So please, know what you are doing.
Know what you buy and why you are buying unless you are an opportunistic trader.
Be happy with a realistic return.
Buy stocks that will have a good business in the future and will give a good value. Price will improve over time. Be patient.
By chasing rallies, you are helping the manipulators, later blaming the SEC and everyone for that. Do your thing right!