It may seem counterintuitive, but to CNBC's Jim Cramer, one of the best times to scrutinize your portfolio is during a rally.
"If the fundamentals aren't changed, if the company hasn't improved, then it might have gotten too expensive as a stock because of the rally," he said.
"So, when the market's roaring, give your stocks a hard time, please, hold them to a higher standard.
And during a big rally, winning stocks become more expensive and less desirable because the risk and reward ratio becomes worse, he explained.
"Because the whole point of owning stocks is that you're supposed to sell them when they go higher to make money."
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CNBC's Jim Cramer, Cramer, it's