I'm sure a lot of people do say it that way. But there is a very real phenomenon-- when the price is high, people want to buy, when the price is low, people w

I'm sure a lot of people do say it that way. But there is a very real phenomenon-- when the price is high, people want to buy, when the price is low, people want to sell. I had a friend who was a gold dealer and I would talk to him periodically about his experiences. When gold prices are high, he'd be out of stock because everyone would turn up in his store wanting to buy gold. (often because the media was talking about record gold prices and people would say "damn, I should have bought when it was $300! I'm buying now!") When the price is low-- gold dropped to $1,500 or so lately-- people sell because they think its a bad investment. A lot of those people selling at $1,500 bought at $2,000 and have watched it go down and are now swearing off of gold. (Without regard to the fundamentals that indicate gold will likely hit $5,000 in the next 5-6 years.) Buy high, Sell low is the reason so many people think the stock market is a gamble. Their emotions got the better of them.