Like all traders, I use my share of oscillators to gauge when the market is overbought and oversold. I also take my cue from the stocks themselves.

Suffice it to say, at best case I'm finding scores of stocks that look ready for a short-to-medium term consolidation phase. At worst, a major drawdown. In fact, even if you think these stocks are going to continue their winning ways over the long-term, on balance you should anticipate some significant short-term pain. Even in bull markets, winners will typically revisit their uptrend lines. After the rally we've just had and with emotions so high, I think many of us forget that rule.

Below you'll find some standout examples of stocks that have indeed seen impressive gains, yet at best appear susceptible to short-term pain. People always ask me what I mean by risk versus reward - well, in each of these stocks, the risk is higher than the reward if you're trading on a short-term basis:

You may want to take a look at all of your positions now in order to determine whether you can handle the pain.