Hi Shoppers,

Who doesn’t love artwork?

I love art shows and any art museum. 

One of my favorite classes in interior design school was art history.

Interior design, you ask?

Yes, after my son was born, I thought I would use the other side of my brain and went to interior design school four nights a week.

By the time I finished – and lots of tuition money later – it was 2008. We all know what happened then. Perfect timing!

Anyway, art is a fascinating subject and truly a great way to learn history.

Andy Warhol’s famous silkscreen of Marilyn Monroe titled “Shot Sage Blue Marilyn” just broke the record for highest priced piece of American artwork at $195 million.

 

That’s 75% higher than the previous record which was in 2017 for a painting by Jean-Michel Basquiat from 1982 that sold for $110.5 million.

Warhol used a movie promotion photo of Marilyn for his piece.

Doesn’t seem like it would be that difficult to create this. 

There is something about it, though.

Also, the combo of Marilyn and Andy.

All I know is $195 million is a pretty penny.

Mark Sebastian is going to help you make a pretty penny (maybe not $195 million, but still) on Thursday at 11 a.m. ET.

He’s been on fire lately and he’ll show how he’s been trading to take advantage of these spicy market conditions.

It’s a no-cost, live event – plus attendees will receive an EXCLUSIVE trade!

But first … I, too, have a pretty trade idea.

The Art of Candles

I am seeing quite a few hammers and dojis at these lower levels. 

Check out CLF, AA, GM, ARKK and XOP.

It’s difficult to predict where this market is going, so be sure to wait for a solid confirmation before you enter a trade.

For these dojis and hammers, that confirmation would be the stock trading higher than at least the previous day’s close.

Use the previous day’s low for your stop if you do enter a trade.

On the short side, I am seeing a bearish engulfing candle in Kraft Heinz Co. (TIcker: KHC):

KHC may also be forming a double top.

If it opens and trades lower today, I will be a buyer of the May 20 puts:

I would pay around $.95 for the May 20 43.50 puts.

Trade Review

In my Sunday letter, I was looking for AT&T (Ticker: T) to trade higher on Monday to hop into the May 20 calls.

It never traded higher than Friday’s high, so no trade was made:

Last thing before you go … sign up for Mark’s live event on Thursday at 11 a.m. ET!

Thanks for Reading … See You on Thursday!

Licia Leslie