Don't Go Chasing Waterfalls (or this rally)
I hope you Fools enjoyed the shout out to TLC, wow that was a long time ago...
There are a many things that I've learned during my investing career but this point may be one of the most important and is worth repeating.
The recent rally has been great and I hope you all had some chips in the game, but if you didn't then DO NOT chase this rally. Way too often do people, myself included, feel like we are missing out on gains and our knee jerk reaction is to hop on the band wagon and join the market. This is never a good investment decision. Investments should be methodical and well thought out, not quick decisions because you are "missing the rally".
I'm not saying the market will crash/correct from here, but we have rallied significantly and quickly. The higher we go the less likely the rally is to continue.
instead of trying to join the late rally, plan some entry points for your favorite plays and sit back and wait.
Patience is key ininvesting, don't forget that.