Insiders Selling At A Furious Pace
Last week there was a report that corporate insiders were selling at a faster rate that at any time since October, 2007 -- right near the top of the market.
Well, the market's only raged higher since then and insider selling is only getting more intsense.
The Pragmatic Capitalist has aggregated recent insider transactions. As you can see from his data collected (unfortunately the tables won't fit here, do click over), insider sales dwarf insider buys both in frequency and in volume. Insiders are selling their stocks in multi-million dollar blocks, while the few buys are much smaller.
If nothing else, it means that a lot of executives probably saw the abyss (a violent drop from the ranks of the wealthy to poor) and want to de-risk to ensure that no matter what happens to their stock, they've taken some skin out of the game.
See Also:
- e-mail:
- jweisenthal@alleyinsider.com
- AIM:
- openfilerook
- Work Phone:
- 646-214-8948
- SMS:
- 917-621-7438
I'm curious what company hired that young boy as a top officer. And I wonder if they know he's giving insider tips to his grandma.
I think this is a classic contrarian indicator - it would be interesting to see what the stock price of these companies are in 6 months ( I bet they are much higher)
WOW .. the market is higher today than in Oct 2007??? then why do I feel so poor Joe?