It does look that way. Regarding the timing, strength and duration of the next correction, my crystal ball is unusually cloudy right now. So I just use a strategy that has served me well in the past.

I gradually sell off my high fliers, use some of the money to buy lower grade (pun intended) small stocks that have not risen too much. I also keep some cash around to buy the high fliers that correct. I think when the correction comes, it will hit the more liquid larger stocks hardest, but they should have a quick move back up when the correction ends. I'm concerned about Oct., but I think the Nov-Jan time frame will be strong for PMs.