Is Sotheby’s the best bubble indicator?
Zero Hedge passed along a chart from Sean Corrigan of Diapason noting how the Sotheby’s stock price has coincided remarkably with easy money bubbles of the last 20 years:
Pretty startling. It makes sense if you consider that excess liquidity is sloshing around looking for things to speculate on.
A closer look at the Sotheby (BID) chart chart shows a breakdown from a large bearish (rising) wedge, and the beginnings of a new downtrend.