Interesting chart:
For the past 2 bubbles, when Sotheby's pops above the SPY on a comparison basis, it marked the time to begin to think about getting out of the market. The prior period had small drops in the market when BID was above the S&P500.
If the tops in Sotheby's stock reflect more sales activity of the rich in their excessive overbidding for items, does this represent a tell that optimism is rampant throughout the system and all players in the economy are participating in bidding everything up and beyond a rational norm?
After watching a few Sotheby auctions on channel called HD Theater, the narrator of the show points out that the awful economy is reflected in the lack of a premium bid for some of the cars up for auction.
For the past 2 bubbles, when Sotheby's pops above the SPY on a comparison basis, it marked the time to begin to think about getting out of the market. The prior period had small drops in the market when BID was above the S&P500.
If the tops in Sotheby's stock reflect more sales activity of the rich in their excessive overbidding for items, does this represent a tell that optimism is rampant throughout the system and all players in the economy are participating in bidding everything up and beyond a rational norm?
After watching a few Sotheby auctions on channel called HD Theater, the narrator of the show points out that the awful economy is reflected in the lack of a premium bid for some of the cars up for auction.