I just pointed out what happened in the .com bubble the years referenced by poster. Views were bullish back then right before the drop. But I agree, you do not fight the tape. In this market you are long or on the sidelines IMO.
Back then, a group of us were trading something called XLA or XLE which was on the AMEX. The thing would take off nearly every day out of a flat base for multiples of it's starting price. I didn't even know what it did and took a look one day. It was an offshore company that owned a casino or two and some other unrelated and seeming worthless assets.....but the damn thing was a trader in those wild times.
That's when you keep an eye on the DJ Transport index. And it is up today. It usually leads the bull. It needs to break 10K and stay there.
One of my fav stock stories. https://elitetrader.com/et/threads/the-robinhood-rally-continues.345342/page-2#post-5120929