So-called 'smart money' is selling, while retail investors are piling into the market. The good news for investors may be that ‘smart money’ tends to sell early while the market is still rising, while there are still bullish investors willing to take the other side of their sell orders.
The bad news is that smart money is regarded as being smart because of its history of buying low and selling high, something investors are not noted for, investor sentiment always being bearish and fearful at market lows, and bullish and confident at tops.
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