And these guys only came public in June of this year……….
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Sotheby’s (BID) is a curious beast, because it’s one of the few public companies that pretty much caters just to the rich. After all, how many of us are going to toddle down to the auction to put $30 million for a piece of modern art?
Anyway, it recently had a very large bearish engulfing pattern, which was followed by another big drop the day after. I suspect that, as with 2000 and 2007, BID is signalling that rich people are going to be closing up their very fat wallets in the near future.
Long E*Trade Financial (ETFC)