Sotheby's (BID)…Checking in on the Loose Money Indicator
- Posted by Howard
- on November 8th, 2007
Sotheby’s (BID) is imploding today and I am not sure why. It can’t be good and I mean that for more than it’s stock alone.
I use it as a loose money indicator which was recently at all-time highs and Wallstripped.
When this stock tanks, it does not bode well for the economy or market. Another sign that it is time to lock down some profits as I have been doing.
Please don’t shoot the messenger.
UPDATE – Here is the reason . There should be a big bounce
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Born in Toronto, lived in Phoenix for 20 years and now in Coronado, CA with a loyal wife (15 years, 14.2 Canadian years), two awesome kids and a dachshund. My current start-up is called Stocktwits and I am a co-founder and CEO. More »
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