INSIDERS STILL VERY BEARISH ON THEIR OWN COMPANIES
16 November 2009 by Cullen Roche
7 Comments
The insider buying & selling data for the week ending November 13th worsened substantially. Total insider selling jumped to over $960MM vs last week’s reading of $729MM. Buying fell to the nearly non-existent level of $29MM. Sales by Bill Gates accounted for almost $200MM worth of the selling, but outside of these sales the selling was broad based. Despite a soaring stock market, insiders continue to exhibit very little confidence in their own companies through the use of their personal fortunes.
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TPC: could you please comment on this story: http://www.marketwatch.com/story/analysis-of-corporate-insiders-behavior-2009-11-12
i´m confused.
Their data appears very wrong. I am using the actual SEC filings. Insider buying is incredibly light. This is consistent with all other reports lately.
thanks a lot.
In such circumstances, i.e. when for many insiders profit-taking is clearly advisable, I wonder if this data is less relevant.
I wonder what this data looks like historically? Something doesnt quite sit right with me. The data these last few quarters has basically been the same – no buying.
I wonder what the data looks like historically?
Are insiders also pouring into bonds or bond funds like the rest of America – I mean have they changed their views on risk and allocation?
Definitely curious.
Isn’t this data a little skewed by Gates selling? If you take the outliers on both the sale/buy side of the ledger, we would get a different picture of insider activity.
Great stuff, BTW.
This could be another indication of a top of the bull or bear/rally top(doesn’t matter what you want to call it- +50% increase since march) as many have anticipated. I believe , combined with other indicators and data, this confirms a topping range that cannot continue beyond DOW 10,500 at best. Will stutter until early 2010 Jan and fail to under 10,000, where?, who knows(I doubt under 8500 ?). Depends on how bad unemployment gets and outlook at that time. The unbridled spending and wreckless policies by this admin are not and will not strengthen confidence in US markets/dollar. Blaming China for monetary policies will make bad matters far worse quickly and US will be net loser of that game. In my view, Obama does not have a clue about much of anything and especially economic matters. This is evidenced and confirmed by his choices of people around him and Geithner to carry out econimic/monetary policy. Geithner was only one of the players that got us into this mess and assuming he can or will solve it is more pie in the sky thinking, becoming more obvious by this administration. Caution and temperance dominate. When and if they start some “real” fiscal responsible policies we can change our thinking/outlook. Trying to look past 90 days to 120 days is of course impossible. I agree totally with Paulson except trying to look past 6 months. The longer these crazy policies continue, the stronger the bearish case and longer you can go bearish in terms of time. The opposite is true for bullish. Simple hey!……..not. Of course there will still be bullish and bearish plays along the way, but must be “chosen” will due diligence carefully.
Just the thoughts of a Goober