Well, retail investors do not think like whales because the whales have long term vision and most small traders are happy to get little profit. That's the reason in case of a bullish rally the retails usually sell early while whales have their big targets.

In bear times, retail are fearful and do not buy at cheap rates while the whales accumulate in these fearful times. There is a difference in the approach between retail and whales and that is the main reason why whales always win over small investors.