A guide to market sentiment cycles: $HFT is up 6.3% in 24 hours—what phase is the market in now?

A full sentiment cycle goes: quietly rising → discovered → everyone piles in → euphoria → disagreement → panic → no one talks about it. Most people lose money because they enter when “everyone piles in” and sell at a loss when “no one talks about it.” By comparison, what stage is $HFT at now?

Which stage do you think you’re most likely to make a mistake in? #HFT

For discussion purposes only; this is not investment advice.