Tuesday, May 5, 2009
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 intense.
The Pragmatic Capitalist here 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.
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