The “Insiders” are gettin’ outta Dodge!
Hmmm. Perhaps they know something bad is coming for the Wall Street Casino…
As the Dow, Nasdaq, and S&P have been steadily climbing over the past few months and showing snapshots of recovery, the truth of the matter is that insiders have used this rally to sell their shares at record rates. Last week alone, insider selling reached $662 million while insider buying was only $1.6 million. That is a sell to buy ratio of 423:1.
Does that sound like CEO’s truly believe in the value of their companies and in the economic recovery?