Another profitable strategy is to find a reliable way to guage overall emotion in the market and to take the contrarian perspective (trades).

One way is to wait for big media outlets to start mentioning "strong investment opportunities", then to take the next counter-trend signal as the sign to take profits or to enter the counter-trend trade. In the emotion-filled world that runs the markets, big media is the slowest of the laggards, except for the dumbest of the dumb money that throws their paychecks at the market after getting the tip, that is.