All too true.
I guess the markets are kinda self-regulating like that in elimination of most because of the power of the ego....
Best to understand the changing nature of the markets and be flexible rather than deny the facts as they change because of pride.
And it's all in the charts. That's what it's all about, you can entertain yourself as the hype continues in a market despite strong divergences and price rolling over and know that this even supports your conviction of a change of direction....that's where the big money is made, when the boat is 'lopsided' in consensus at times as you have spoken of, but the charts show the big divergences and then you know that change is likely...
Then everyone turns all at once 'en masse' and the boat tips....

That's actually why metals are not as tempting at this juncture I guess...because even though consensus might seem extreme it is disagreeing with the technical action in the metals...and being one who likes to follow charts I feel compelled to try a short here anyways but keeping my finger on the reverse button in case we do launch....

Anyways here is the biggest reason I am bearish gold....it is simple, yet it did show the way for silver, corn more recently...and now gold?