>As noted, speculators bid down as often as up.
One thought that’s important to keep in mind (and may help some clear up their confusion about “speculation”) is that whenever you buy a stock that you think is a great deal to buy at a certain price, each share you buy is coming from someone else who thinks it’s a great price to sell at.
Of course, they may very likely have requirements different than yours for selling. A good example would be the seller needing liquidity (e.g. a mutual fund selling to meet payout requirements of its retire customers cashing out some funds), while you may be interested in being long in the market for 20+ years.
This discussion about evil speculators is misdirection: We need to not permit Congress from sneaking away from this very mess they created. Democratic policies and obstruction are the cause for the current crisis. The surge in Chinese, Indian, Indonesian, Malaysian, etc. demand had been expected for quite some time. A semester of macro economics would be all you’d need to have to predict this outcome. Do not let these irresponsible Congresspersons to get off the hook for the harm they’ve caused us all.
