With Walt Disney Co (NYSE:DIS) at $146, Cramer doesn't want to blame people for
taking profits, but he still likes the stock.
According to dealers, dollar flight has increased because multinational companies are
taking profits out of the country as the book closing date June 30 is approaching.
She recommends investors consider
taking profits given that she no longer has confidence in the company's earnings and cash flow trajectory.
The banking giant, still 71% owned by the taxpayer, made PS392m between July and September,
taking profits so far this year to PS1.3billion.
An analyst said, 'The question here is how sustainable these profits are and I think what people here are doing is
taking profits slightly because the stock has developed well in recent months.'
To ensure that investments continue to perform,
taking profits has become essential for an increasing number of investors.
"Ahead of Wednesday's publication of the Fed's meeting minutes, market players are clearly
taking profits while they can.
"The small fall that we're seeing is due to dealers
taking profits on the previous days' gains," Michael McCarthy, chief market strategist at CMC Markets in Sydney, told AFP.
Oil traders were
taking profits after an overnight rally saw US crude prices rise as high as $99.84, said Ker Chung Yang, commodity analyst for Phillip Futures.
VTB Capital analyst Andrey Kryuchenkov said that traders were "
taking profits," adding that sentiment was also hampered by Japan's ratings downgrade.