"На пике цен" - более сильное выражение, но при этом несколько неправильное. Как можно определить, что сейчас именно пик? А что если рынок и дальше будет расти.
Можно более мягкий вариант - "цены близки к пику".

Еще один вариант.

и к последующему падению цен

http://www.wallstraits.com/community/viewthread.php?tid=4761

Originally posted by icewolf
Since 3 out of 6 of the advice depends on spotting a toppish market, can anybody advice us how to reliably spot a toppish market?

we can never call the TOP of a market accurately. However, it is better to be "approximately correct than precisely wrong." (caught wrong footed).

Personally, signs that I look out for when a market is near the top are:

1. almost everyone is IN the market. It becomes such a hot topic that even people who are normally not interested in the market start to get excited. eg. taxi-driver, housewives, students etc.

Note: I do recognise that there are investment savvy taxi-drivers, housewives and students out there, I personally know some of such people. What I am talking about is in GENERAL.

2. almost everything moves up in price. In the stock market, this is when even loss making companies and other companies with poor fundamentals get pushed up.

3. the index failed to make higher high.

4. as stocks failed to make higher high, each push up you witness lower volume when price rise, and higher volume when price drops, which is a warning signal that "distribution" is going on.

Note: Distribution means that the smart money are getting out and selling their stocks to eager retail investors.

5. PE ratio starts to get too high. As Li Ka Shing observed of China stock market, PE ratio is 50 or higher, while the rest of Asia is below 20. People tend to have short memory. Has anyone forgotten that Nasdaq's stocks were trading at PE 100 times or higher when it collapsed?

Note: in a craze, it might be possible for China stock market to go up much higher from current level before the eventual collapse. We never know when. How we can protect ourselves is to start to raise Cash level. Currently, I'm holding 40% cash.

6. Newspapers would publish stories and comments by people that "This time things are different". Remember in late 1999 and early 2000 when there are many analysts who said things are different now, becos we are in a New Economy and prices can just go up and up?

Recently, I read theory of Super Star cities where property prices would just go up and up and up for these cities.

7. Almost everyone is bullish. You can hardly find a person with a bearish view.

The above are what comes to my mind immediately. I might have missed out some other pointers.