I used to be a contra. The market just can’t go up any further! I would sell my positions, get small, buy puts, sure enough a 2-3 percent drop, then it would reverse but I didn’t believe it and miss out on 5-10 percent up. Now I just try to pick good stocks, I’m value oriented. Steel, shippers etc. I stay 80/20 stocks cash. I write some covered calls and naked puts.
I’m retired. In the past 18 months I’ve increased my net worth from $718,000 to $1,010,000 today. It’s a good thing because gas, groceries, cars, movie tickets, everything is inflating. I’ve done so well I should probably drop my allocation to 60/40. Have more ammo in reserve in case we wander into a bear market. I can make more than enough off of 60% stocks allocation to support my 4.5% withdrawal rate, when times are good. They aren’t too bad right now, right? Always a wall of worry. COVID this and that. Global warming. But we press forward. All just the ramblings of an old man, not advice for anyone.