you are absolutely right...History might/might not repeat.
As a trader, you only profit by live above the greed and fear and profit from it. My instinct recently told me there is something major coming in this market, so wait for the signal to jump in on the other side. Mr. Greenspan provided the signal for me last Wednesday.
based on the reactions so far in Asia market and Europe, my bet 90%+ QQQQ will be down 1-2% tomorrow. That's all I need to close out my QQQST position with a big gain.
Always protect your capital...My money in A shares is a small % of my profit money. All initial investment and profit were all devested. Let's see how much govt can cool the market in China this time.