June 2, 2020
... I do have to admit the euphoria got to me most of the yesterday.... decided to do a bigger scan on the sector later in the afternoon and realised that it was time that I got off me sitting on my ass .... yes, there were a couple of signs and the obvious one of course was too fast, too furious, too soon... if that was the only factor alone, I probably let it slide.. and the other couple reason was the gravy train was grinding to a stop and of course there were some signs of distribution ... classical signs of climax in a rally..... but the main one was I was missing out the eruption on the top (pun intended hahaha)

that eruption.... was the nail in the coffin ... imo.... that the climax is near and in such situations, it has proven time and time and time again that the best course of action is that the stocks should be sold.... without hesitation.
ps... just sharing the couple of things that I wrote in my notes....

1. in a frenzy, valuation is just a foot note. It is what it is. If based on valuation alone, a trader is most likely to leave a huge chunk of profit on the table.
2. in terms of risk, there isn't much really IF and IF one got the buying in correct. The right buying solves most of the problem. It still held true here.
3. WAITING. waiting again is always crucial. Patience is really important for one to sit tight and do nothing. Never sell JUST BECAUSE there is a profit to take. That is always the worst thing to do.
4. in a sell off, there is always good profit to be made. All is needed is one good trade. Find it and sit on it. And yes, look for the sexiest story that can be told in the sell off. If it ain't sexy to me, it won't be sexy for others... all is needed is one good trade.
cheers