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"The Dow had a triple-digit gain yesterday, so once it got above 11,000 and could not hold, the profit taking comes in," Mr. Kugel said.
The profit taking continued, as the gurus sold off shares of construction raw materials producer Martin Marietta Materials, which reported $70.2 million in consolidated earnings from second-quarter operations, significantly less than last year's $80.9 million.
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This held that private risk capital beats public money in funding infrastructure, its inherent efficiency more than compensating for the profit taken.
Then tax would be owed on the "profit" taken by the investor, but later gains in the asset, assuming it was held for five more years, would be taxed at the lower 18percenttaxax rate.
In all casinos, the games have a built-in "house edge", the profit taken from each bet.
Our food supplies are privately owned by giant corporations, with the profits taking precedence over the very health of our children.
The high-flying telecom sector reached a bad connection with investors, bearing the brunt of the day's profit taking.
In Asia, Japanese shares recovered somewhat at the end of the session but still ended in the red, while profit taking depressed Hong Kong shares by 2.8%.
The company's shares had recently hit a 12 month peak, so some of the fall was profit taking.
Technology stocks are being hit harder than the broad market as profit taking weighs on the Nasdaq composite index, down 19.35 to 1781.56.
On the down side, CNet continued to fall on profit taking following the company's stock split after the markets closed on Monday.
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CEO of Professional Science Editing for Scientists @ prosciediting.com