It is hard to put the kabosh on something when it is working well for you.
As the market rises, you begin rationalizing that all those winners are worth a lot more than where they are and the market is only now waking up to that fact.
By nature I am a contrarian, but I have learned greater patience in letting my winners run (need to work on cutting my losers loose). This has not necessarily been to my benefit as, although the markets have been positively trending since the low, I would have been better off at times looking to trade in and out of positions more actively.
Still, even though the trend is positive and I think we are moving away from the edge, I reduced my exposure to those names that have significantly outperformed and raised a little cash to provide cognitive support should the market trade back down and a little extra powder should any conviction opportunities present themselves.
I didn't feel like selling, but overruled my emotive state. I've seen a colleague do that before and thought he did a good job of it. It is kind of, "the markets have had a great run, I don't see anything that should lead me to sell per se, but I know things don't move in a straight line and it seems prudent to book a little profit ahead of the game."
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