A wealthy friend taught me a lesson about the stock market I never forgot. The message is, unless you are in it big enough to influence it, you are at the mercy of the sharks.
He pointed out a few stocks that were starting to do well and told me to watch them for the next two weeks. He did some hefty buys and drove the price up a little, then stopped, watching others 'get on the bandwagon'. He let the stock triple in price and sold all his shares. The price dropped below where it was when he started. He more than doubled his money in 2 weeks. The companies lost value over the short term, but, survived. The only other investors who did ok stuck with the stock over a longer term. If they were lucky, they sold before the sharks found them again.
These days the computer based systems at the large investment firms drive it all.
Right, thats what I ended up learning, they're using computer algorithms to drive and influence
and since the computers can monitor, they pick up on any stock that is holding or about to go up
as soon as you think you found a good one out of thousands, and invest, you see the price slowly start dwindling in little time.
I don't have the discipline to hold a stock like that for years
I seem to have done better anticipating short term fluctuation before the opening Bell.
One stock I held (Oil company), expecting it to bounce back, never did,
we can't compete against the computer in that game
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I almost did Bitcoin when it was at $1800, but did not because I thought it was stupid
Make believe money, pffft, then watched it jump up to $60K in a couple years based on sentiment.
The market is not sensical anymore,