BID seems breaking down from long term upward channel. This seems interesting short setup. We would consider a short if it breaks below $47.83
We would also consider $48 October Puts, currently $1.33
* Trade Criteria *
Date First Found- August 11, 2017
Pattern/Why- Long term upward channel
Entry Target Criteria- Break of $47.83
Exit Target Criteria-...
Sotheby's for two-decades has been one of my favorite barometers to see when the bubbling prices in Wall Street had spilled over into optimism about all things collectible. The profits at Sotheby's Auction Houses is a barometer for how much cash is burning a hole in collectors pockets and a measure of sentiment, for sure.
See what you think it is telling us now!...
Sotheby's stock used to be a very good leading indicator for when the euphoria of Wall Street had carried over into auction-houses. By the time Sotheby's stock would have it's big rise and then start to fall, it meant the bloom was off the rose for the market and it was time to head for the exits. This worked on many occasions. Here it is again, yet...