The leverage trap: retail investors chasing momentum plays everything that pops. When capital flows start moving, FOMO kicks in hard—everyone's rushing in with borrowed money, riding the wave of quick gains. But here's the thing: margin debt keeps piling up while volatility stays unpredictable. The pattern repeats: surge on hype, panic on correction. It's a classic bubble playbook where sentiment drives the trade, not fundamentals. Those riding the momentum might catch gains on the way up, but the unwinding? That's where positions break and margin calls hit different.