DOW: Set up for a big sell-off (massive profit taking)?

This is a discussion on DOW: Set up for a big sell-off (massive profit taking)? within the Indices forums, part of the Markets category; As a Novice in this business, i just want to know the opinion of other ppl with regards to the ...

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Old Aug 18, 2003, 8:02pm   #1
Joined Apr 2003
DOW: Set up 4 a big sell-off (massive profit taking)?

As a Novice in this business, i just want to know the opinion of other ppl with regards to the current trend of the DOW. It seems to be way 2 high and seems that the big boys(institutions) r taking advantage of d low volumes and setting it up 4 a big sell-off to make massive profits. Am i being naive? Is the US economy recovering so fast to justify the high price of the DOW?
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Old Aug 18, 2003, 8:19pm   #2
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Inclined to agree,


posted a while ago top for INDU would be circa 9,450.

Just a waiting game now



Ls
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Old Aug 18, 2003, 8:25pm   #3
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grubs50 started this thread what do u base that figure of 9450 on?, if u don't mind me asking
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Old Aug 18, 2003, 8:32pm   #4
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Could even reach 9600,previous range 9000-9300=300pts
New range 9300 + 300
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Old Aug 18, 2003, 9:09pm   #5
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grubs50 started this thread I'll be absolutely shocked if it goes that high in d short-term i.e within the next 2 weeks
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Old Aug 18, 2003, 9:16pm   #6
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grubs50+10.

you shouldn't really be surprise, if you short might be worth it looking to hedge your positions.
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Old Aug 18, 2003, 9:17pm   #7
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grubs,
To be honest i'm totally shocked we're even this high today.Can't see the justification for it myself.
Cheers
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Old Aug 18, 2003, 9:23pm   #8
 
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I was convinced we were in for a sell off thru 9400. Sat looking at sideways all bloody evening. What a bore
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Old Aug 18, 2003, 9:46pm   #9
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If we get a 500 (or greater) point movement in one week i.e. back in march when the dax, cac and ftse100 make new lows before starting the new uptrend. Will this be a signal of a top. Something similar happen during late may and early June and the markets have traded sideways ever since.
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Old Aug 18, 2003, 10:28pm   #10
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I can never quite understand why a market level should shock or alarm anyone at anytime. The market is at that price because thats the market price, period. Is the Dow high? Not if the alternative is keeping cash when the USA base rate or key Fed rate is 1%. But take your choice from other rationales, if that one doesn't suit you.

Its rather like those 'bears' that lurk about on financial BB's .. its like (or is) a permanent personality disorder: they are bears when its a bear market, bears predicting a bear market when we've only just got over the last one, bears when its a new bull market, bears when they are being bulldozed over by a growing bull market, bears during a long lasting bull market and bears (if they are still alive) when eventually another bear stock market arrives after years (or even a decade or 2) of waiting! Life on the planet Earth .. what can I say!
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