Stock market speculators have been active from the early days of stock trading. Individual investors have always attempted to “ride on the coat tails” of the expert traders—the “operators,” as they were once called. Sometimes these individuals are manipulated; other times they profit in the process. “Pools” of money have existed since funds from Europe began to flow to America, the new “land of opportunity.” The French, the Dutch, and others were quick to recognize the ground-floor opportunities made possible by businesses created in this new country. Even today, foreign funds flow into the US markets when the market is bullish. Institutional analysts and traders are well educated in the areas of economics, finance, as well as the history of the stock market. They are well aware of the Dow Theory, technical analysis, and probably a dozen or more other theories on the stock market.