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What I've learned from Momentum markets is to never call a top, that's just gambling and far more money is lost selling early than just after a crash. However prices in a watch market can't really crash they will only slowly be lowered by greys as the market really moves consistently against them and they are forced to accept the happy days are over, so it's not a bubble but more like a balloon that slowly deflates, and thus there will be more insulation if you do end up buying near a top and you will have time to sell if you have to. Having said that the premiums now seem mighty high and I could not justify buying at these levels.
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