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!
I'll put this as a "Long" for BID, just so it isn't a neutral. I am seeing this as a PAIRS trade to Buy BID, Short SPY.
Tim 1:18PM EST August 20, 2014 SPY 198.82, BID 41.04
Comments
timwest
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This trade is up 7% (BID +10%, SPY +3%, net +7%) July 7, 2015
Mr_DL
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Way too early, indices have topped yet.
timwest
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What do you think now that BID is off even more and the S&P has had a large rebound? The last time the S&P had a nearly 10% drop right after this pattern publication.