As I stated, momentum can outlast whats
reasonable in todays market as folks chase and
have few limits on what they are willing to pay as
long as the 'noise/news' convinces them that if they
'don't play', they are missing out.
And as far as trying to 'time' it? Try to, and again the
hard part is, without the market imposing/enforcing
sound fundamentals on share prices/market caps?
Folks are willing to pay whatever it takes to participate.
No different than seeing someone pay $80,000 for a car when one
for $35000 will do the job and cost them even less to own (no forced
dealership visits to keep the 'warranty' period valid for example) or
paying what was it $106,000 for a bitcoin that is nothing more than a
1 or 0 on a digital screen.
The trick is, when these things happen, is to take advantage of it. You for
example have shares? I would be seriously considering selling them or at
least selling covered calls on the shares at this price of $118. Will this be the
peak price? Who knows, but at some point, as Burt Baruch put it,
I wasn't the first to buy nor the last to sell. AKA I made my money by playing
in between the bottom and the peak.. aka, the price he was happy to sell at.
Good luck...
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