Greedy? Now I am getting fearful
I have used the current rally to correct my (real) portfolios. Most have recovered about 90% (still a 10% loss, but considering what my portfolio has been through, close enough) of their value, and I have been steadily liquidating them and sitting on increasing amounts of cash. Course, problem with this strategy is that I will miss out on any more equity rallies, and this situation could last for quite a while. I remember the last time I did this a few years ago: I missed out on a lot of fun, but I did not suffer when the markets retreated.
However, I have joined those Fool writers who are expecting a rather substantial pullback. At this point, SPY, QQQQ, and DIA are giving me a nosebleed. I just don't know when it will happen.