Subject: Re: I’m Trimming - Filed @472
The reason any equity moves to the current price is because the weighted average of what all investors in that equity think the sum of all the future discounted cash flows have changed to. It can't be anything else.

I'd add a small refinement:
...the weighted average of what all investors who are watching and willing and able to consider a potential trade that day.

People who "buy and forget" for months or years at a time have no effective influence on market prices. Their votes don't get counted. In effect, it's only the votes among the people with eyeballs on screens that set the price. Arguably they aren't the most rational ones on average, which might explain a lot about price movements.

Jim