Stock Market Support Groups

This post is dedicated to all the traders who believe in technical analysis. If you're a fundamentalist, don't waste your time reading this post because this doesn't apply to you.

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I was browsing my feeds this week and I saw this

(Click Images to Enlarge)

Side Question : Why wasn't it given the same attention when it first broke out (1)?

Here are a few other notable groups I noticed.

And this one is my personal favorite because of the Description. I admire the honesty.

I would understand true fundamentalists who are in these groups because that's just how it is with fundamentalists - you consolidate all the news and information you have in one "drawer" and that's fine. But for anyone else who isn't a fundamentalist?

Strength in numbers. This is the most common mistake people think works in the markets. "If we group buy the shiz out of this stock, this will definitely go higher." 

But you know what? The market doesn't work that way. 

And I've seen groups where popular gurus, company owners and CEOs are present and give buy recos with outrageous target prices on their stocks - AND then dump shares to your face. 

You think these people care about you? 

The market is like the government. You can lock arms, hold hands, protest and rally all you want with your buddies. But by the end of the day, the market does what it wants, regardless of anyone's opinion or feelings.

Photo Taken From Google Images (Rappler)

If you want to survive in the markets as a trader, follow these two principles : Never trust anyone with a buy reco. And take everything you hear with a grain of salt.