Psychology of Buying

My experience of last two years in stock market suggests that it is easier for a value investor to buy a stock at 50 while it is going down and has corrected from say 100 then to buy a stock at 50 which has risen from 30. As a value investor I have shunned investment in Indian stock markets the day Sensex moved past 11000. I thought that it has risen from 8000 to 11000 in just two months so most of the value it was offering is gone now. The fact is that I was investing at these vary levels in October 2008 when market had corrected from around 21000 levels in January 2008. The emotions are difficult to overcome and psychology of humans is hard to understand.