I thought it went without saying but read that passage again and...

I thought it went without saying but read that passage again and replace insiders with instos/funds. Instos are the equivalent of the "insiders" and "pools" of Livermore's time with access to more and better information than the rest of us and the money to run "bull manipulations" ... if you don't think they occur now, ask yourself do the big institutions get it wrong on almost every single big running stock or are they simply running up the price to unload their stock on the public that get sucked into a good story(look at all the big winners post covid and where most of them are now for example but this happens in every bull market)