Krying, I think that you are correct -- many retail holders who are barely hanging on will bail at their first chance. Unfortunately, that means that they held through a lot of pain for little gain.

That is a very common phenomenon and a big reason that small retail holders underperform -- they are too emotionally involved in their stocks; fear and greed work them over and break their will.

There is a pretty good blog on the psychology of investing at http://www.traderfeed.blogspot.com.