Stocks often go up BECAUSE milionairs buy them.
Milionair buys stocks > price goes up > 'clever' investors follow in his footsteps and buy the stock > stock price goes up even more > milionair sells stocks > stock price plummets > 'clever' investors bite the dust
Something like this happened during the Internet boom. People were going crazy for everything dot-com and as a result, the stock prices soared. The professionals sold their stock at the peak, the average joe got greedy and waited until the professionals flooded the market by selling their shares (because they knew most internet companies would never make a profit), causing everyone else to get suspicious, sell their shares as well, and made the bubble pop.
Someone once said it's easy to make money on stocks: you just need to buy from pessimists and sell to optimists. I'm definitely going to try it, as soon as I have saved up some money.
