Believe it or not the big boys of the trading world (market makers, specialists, hedge funds, etc) prefer to accumulate on the down swing, because if they tried it on the up swing, they would be buying against themselves, and if no down swing is present, create one and forcing the weak hands to sell.

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If you are a fan of the BBC, this is scene from 'Only Fools and Horses' at the poker table sums up the stock market game very well. Bluffing, trickery, cheating and the winner takes all if you are not caught.