Sotheby's Indicator...A Reason for Optimism?

Take a look at the lifetime chart of Sotheby’s (BID) . I have written about the indicator and it has helped me gauge the froth of the market.

If history is any guide, the froth has been quicly and viciously beat out of the market.

I think we are much closer to a bottom than top in price now, but who knows how long the stock will drift down or sideways.

Kudos to all of us who survived the vicious crash in financial stocks. Price action kept me out of the mess for the most part and although I am not plunging in on the long side, the easy short money has been made for now.

At $20 I would have to buy this great brand for my kids, but when it gets to $20 I will probably change my mind :) .

Here is Wallstrip’s old look at the biznis: