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 Trading Choices 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, 3:02pm   #1
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Default 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, 3:19pm   #2
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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, 3:25pm   #3
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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, 3:32pm   #4
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
Could even reach 9600,previous range 9000-9300=300pts
New range 9300 + 300
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Old Aug 18, 2003, 4:09pm   #5
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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, 4:16pm   #6
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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, 4:17pm   #7
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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, 4:23pm   #8
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Default Re: DOW: Set up for a big sell-off (massive profit taking)?
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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