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Insider Selling To Buying Ratio Approaches Five Digits, Hits Record 8,280x In Week Ending November 19
In the first full week of the latest iteration of post-QE2 POMO, which was supposed to see a dramatic ramp in stocks, the only thing we have seen is the biggest insider buying to selling imbalance since the data has been tracked. Overall, selling by S&P500 insiders was 8,279.5x times greater than buying (per Bloomberg). There were 5 insider buys for a total of $150,673, and 117 sales for a total of $1,247,500,249. There is no point to even discuss what this data point indicates.
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This is strongly bullish - not just because of all the extra cash on the sidelines, but also because buying was $150,673 above expectations. </sarc>
Strongly bullish? Yes well. And exaclty how long have you been seeing these bulls?
But more importantly, the latest ECRI leading indicator jumped to -4.5%. That's up from the supposed double dip -11% posted in July. That used to be an important number here but of course anything showing improvement doesn't matter.
SCOREBOARD! SCOREBOARD!!
It is time to grab your ankles and bend over. This is how the CEOs and Bernanke are Raping Americans.
How can this be legal ??? How can this not be Embezzlement ???
Once again, for the very cheap seats, the re-recession predicted by the ECRI, has materialized (at least according to Ben the Bernank) and is being resolved with $900 billion in monetization. We would have thought that readers would be intelligent enough to realize this (as well as the fact that the ECRI has now been shown to be a generally conicident indicator with the market and one which its creators discredit when down and praise when up). It is informative to know we may have overestimated some... Also, perhaps you can convince all these executives who have now sold over $20 billion of their stock in the past 6 months just how wrong they are. Let us know how that works out. We will gladly report a pick up in insider buying.
Do you have a chart that goes back further than 6 months? I'd be curious to see the cycles of insider selling throughout several years. I also didn't notice AAPL on that list. What does that tell you?
That the PPT is holding onto their apple shares tightly is all.
If the Feds keep taking down hedge funds, who gives a F about AAPL insiders.
Like I have been saying 2 weeks ago....the insiders are dumping into this POMO driven market as this will be the last chance they can get out. Cant really blame them, they are just taking advantage of the situation. If I could find some fool to buy my worthless shares for a 25% premium, I would also.
Btw, Harry change your avatar coz I am getting junked because of it.
+1
Harry needs an avatar with a scull and crosssbones.
Harry needs an avatar with a rocket . . . cuz the S&P is going to the moon!!!!
Bam, boom, straight to the moon!
Just like Alice.
Harry needs an avatar with a dick and a head.....cuz he's a dickhead
He needs a small, hairy, Richard.
Simmons or Branson? Heinberg is way too cool for Harry.
Simmons or Branson? Heinberg is way too cool for Harry.
how about this one?
http://en.wikipedia.org/wiki/King_Richard_IV_of_England
akak might get pissed about that... lol
Harry, if you had a brain, you would not need more charts. Just buy AAPL, and keep posting.
Ya might want to jump on a gem like NFLX, though.
Harry, you really are a Wanger, no?
No just a Wang.
From North Korea. Propaganda department.
What part of historicall unprecedented record highs do you not understand?
http://jeffreyhill.typepad.com/.a/6a00d8341d417153ef01116836cfab970c-pi
Historically selling has always out paced buying since insiders acquire shares for next to nothing, i.e. through options, rather than saving $10,000 of their wages to buy shares.
There are some charts around somewhere, but selling has always been higher than buying except for the market lows in 2008 iirc.
I actually did used to chart this in an eariler day and age, but others didn't look at it closely, and I found company-to-company activity more useful.
That being said, I usually negated the selling and focused on open market purchases plus options acquiring. You saw a decent spike in late 2008 and early 2009. The biggest spike I've seen in 10 years, however, was in March 2003... it proved to be pretty decent on timing.
The most dramatic selling I've ever seen was in early 2000, when Internet execs were dumping in the face of an early decline. Oh, special times.
Right now, it's the lack of open market buying AND options acquisition that concerns me more than anything else.
But it's been that way for over a year now.
Check out the chart posted below by Tyler. I for one would be interested in any insight you glean from it.
Glad he posted that. I've been wanting to see a chart like that. It would be great if it went back to the late 90's and included the previous recession. Be interesting to see rather than starting where it does.
"We would have thought that readers would be intelligent enough to realize this ..."
Tyler,
As self-appointed spokesman for your very dumb readers... even we realized it!
BTW, we tried to have a meeting the intelligent readers, but they couldn't decipher our colorful pictogram. But they showed up at Scores anyway...
HD
Again, this is just one bounce along the path of an economy in decline. The vector remains negative. Some people are doing well while most are on the edge with declining buying power. Evidence abounds and is being covered on an ongoing basis.
I suspect the insider selling wave is a rebasing of the tax basis of these holdings. Wealthy stock holders (insiders with millions of $$ in their company's shares and options) are selling now to avoid the higher tax rate Obama has committed to and to which the GOP/TP do not have sufficient votes to override any POTUS veto. With the Treasury's stalking horses buying up assets for the wealth effect, the banks are buying these shares for "resale" after wash sale rules lapse. Insider buying will return when prices drop to where "share buyback" makes money for them. Whenever.
This is true...but also true that the ECRI is still quite off from the May high...which you do not mention either.
For the first time in it's history the ecri would not be showing a recession. Its still negative. Still Down.
It's shit. This market and economy is too.
It's moved up incredibly fast since that -11% print. Look, is trending up and trending up nicely. That should tell you something. Can't believe how difficult it can be explaining simple trends to some people here.
Its a dead HarryWanger bounce.
Wanger is dead? Dang, what will I do for chuckles now?
but he is still bouncing. :-)
chuckles.
Mr Hendrix help me out. So a Hairy Wanger bounced (is that a one ball or two ball bounce?), a cat commented on it and noted it would have nothing to do (ie bounce dead), and then a mouse ran by the cat and commented that the wanger is still bouncing (but dead?). Then a skittles shitting rainbow horse had a chuckle over it.
Only in the magical land of ZeroHedge. I'm so confused.
Don't worry, a Racoon may happen by and give us the straight poop...:)
A Harry Head Banger Cocktail!
They taste good until you wake up!
---"Can't believe how difficult it can be explaining simple trends to some people here."
Then quit trying and go revel in the wondrous recovery with some other like-minded permabull assholes at briefing.com...
Simple trends... Keeps dropping due to shitting global economy. Shoots up with fraud, qe2.
Pretty simple,
"It's moved up incredibly fast since that -11% print. Look, is trending up and trending up nicely. That should tell you something."
...Like that maybe stock prices are included ECRI's index???
http://pragcap.com/which-revisited
I have come to accept ZH as a site primarily suited for those seeking a crisis de jour. It is all well and good to articulate issues that may differ from the MSM's rosy outlook on all things economic, but there seems to be a very short memory at work here.
The item you mention is one example, but to be honest it happens all of the time. Riots in France are going to shut the place down but in reality, the pension reforms were passed into law and France goes on about business. This is the same story for Greece and will soon be for Ireland and the rest.
No perma-bull here, and I hardly consider Harry to be one either. But many here are so deep into the perma-bear camp they have little credibility. When things improve as they have lately, the response is primarily to discredit the information; if the information from the same source says things are getting worse, well then, the source is impecible.
Get ready for a great retail season and the usual cries of manipulation of data from the ZHer's. Keep up the good fight Harry; voices of reason are few and far between.
My cosmetic surgery request index is up, too
Credibility? I know what you mean. With the mark-to-myth accounting 'standards', insider trading, PM suppression, the CFTC and SEC enforcing nothing and other Wall Street shenanigans, it's hard to trust any official statements/pronouncements/balance sheets.
Thanks, Mr. Mas. I'm no perma bull, I short when the opportunity is there and I buy when the opportunity is there. If I see positive earnings, I look through the report and not just headlines. Same with a bad report.
When I see economic numbers put out, I dig into them. Calculated Risk does a fantastic job of this. Any data is well presented and explained with no agenda. Straight to the point.
I like a lot of the info presented here but you have to wade through the "every single number is either a fraud or manipulated" bullshit to get to it.
Every negative data point is presented as "the end of the world" when in fact it's sensationalism more often than not (remember the volcano? - these guys were cheering for a volcano to erupt). As you say, there are countless examples. I will post an informative response as to why I don't think Joe Mall Six Pack Guy gives a rat's ass and, in the greater scheme, or why he shouldn't.
Nice to see another rational thinker here.
If you think there will ever be a condition where you can short the market based on fundamentals, then I would say you are a bull. You are bullish on market functionality. Probably is, the market is BROKEN. How many more multiples of PEs do you have to see before you understand that?
Selling was all from Ballmer the bald
Wasn't that last week?
I'll have the roast duck with green peas, thank you
Sorry, the only roasted thing on the daily menu is Silver shorts.
I am waiting for the snake to eat its own tail and go all in on PM. Do not be on the other side when JPM has alleviated their short contracts and goes long silver.
Commercial short positions are 87,000 contracts last time I checked. That's 87k*5,000 = 435Moz, or almost 50% of annual production. I doubt they'll turn this position around overnight, or at least not without Silver overtaking Gold, Platinum, Voyager, and Halley's in one stretch.
Not in one night...it will be a week or so. And they will pull all short contracts on gold, and platinum too. They do this or else they die instantly, which is why they will most likely do it, but here's to catching the enemy sleeping! If they do not, then if anyone every asks for delivery on the COMEX then the game will be over for real. If they pull their shorts then they may be able to convince everyone to let them stick around. If we get all of the physical first, and they do not know what hit them then we skunk them. Either way...
buy silver ;)
That is the most skittlist view I have ever seen.
They will just change the rules if they have to.
You are looking at them playing fair.
LOL
You must be a young buck
Respectfully..................................
Threegggggg,
Your view is boxed in tandem of a view superflous with extremeties but without standing. You wear blinders: FIAT is not real, the rules that govern it hold no weight. Use your illusion; do not be a defeatist. There are no rules; we make our own.
They can change the rules all they like. That won't stop the industrial panic for physical silver.
The Crimex has little to do with that.
Real production and real industry procure their materials through real contracts with suppliers, not on futures markets.
People should stop looking at futures markets as indicative of anything real. Futures are kind of supposed to be cash settled.
They are real to the extent that they continue feeding silver into the physical market. Any rule changes that prevent that makes the futures price totally irrelevant, as you pointed out.
I would argue that futures are NOT supposed to be cash settled. They are a method by which producers of physical goods can hedge against price changes. They must deliver to the holder of the contract on the expiration date. If this is not occurring on the COMEX, then the price action there is irrelevant.
Buy GOOG, Eric needs the money.
Nice try. FCX, suckers!
anyone else notice there is not ONE, not ONE metals stock on that list.
silver stocks >> don't buy SLV, controlled by JPM and used to control the peasants' desire to get into metals. ...SLW, PSLV (ETF that actually holds silver), MVG, CDE, HL, SVM and the poster boy for naked shorting now breaking free >>> MNEAF, this one is a knee to the balls of the silver shorts
Gold....GLD is the JPM tool to manage the index. PHYS is the ETF that actually holds gold. vast array of stocks here....personal faves are RGLD, AUY, KGC....tiny guys are NAK, NG and NGD
Those are some pretty good picks and advice, dude.
Nearly all of these weekly selling / buying ratio charts, including this week's chart, have indicated that one or more insiders have sold roughly 5,000,000 shares of Oracle. That seems like more of a prolonged compensation scheme rather than clear indicator of panic selling. On the other hand, it could be the most shares that insider thinks he/she can get away with each week necessitating the extended dumping scheme.
I know that this week's chart would not change too much due to the massive sale of MS stock, but on most of the others the ratio shrinks significantly if Oracle is removed from the equation.
P.S. need harder captchas
Lots of stuff pointing to a big unwind, including Fibonacci lines from the great depression. But the insider selling is a nice confirmation.
See the bottom chart, the Fib Fan from Great Depression is amazingly back in play. And a 60 channel backtest rejection.
There is going to be lots of 78 retrace and bull boils until the buy the dip bulls get whooped.
http://oahutrading.blogspot.com/
Damn you Bill Gates
Oh and fuck the TSA
Tyler, is it possible to chart 'selling vs buying' by S&P500 insiders for the last 3 to 5 years (as far your data go)? So we can see how this has evolved over time.
Thanks!
Thanks! Kudos!
Holy fucking shit.
http://www.youtube.com/watch?v=gBzJGckMYO4"Holy fucking shit."
-Couldn't have said it better myself
Planning for two things - (pick your fav order)
1) Systemic economic collapse
2) Higher taxes
I would call that chart a full facial.
The ratio isn't so scary considering we've seen ratios near that before in the middle of bull markets, but the net buy/sell volume is unreal.
Bah. Until it falls off the bottom of the chart, hits the floor and bounces a couple times, it don't mean nuthin.
With due respect the readings in the past were followed by steady higher market. Just saying what I see
Shocking graph, but how much of that is people locking in capital gains income before the Bush tax cuts expire?
Observations and thoughts:
1. Large unexplainable spike down, but insider selling has been prevalent over the entire chart... nothing new except magnitude.
2. It is expected that there will NOW always be more insider selling than buying because insiders are NOW given free stock as part of compensation (which IMO has become self-indulgently rationalized) when in the past they were given more options or had to buy stock to own it.
3. We have known and acticipated for at least the past 30 years that one day the baby boomers would be retiring and would have to take their money out. Now is as good a time as any to start. This is probably the second most important trend.
4. Stock used to be perceived as having ownership value. One could actually say that you held certificates and owned shares in the company. Today, the shares are owned by the broker; the market is known to be a rigged casino with shares only being betting chips and the bond (debt) and preferred holders have virtually all ownership stake in a company. Common shares are trash due to the increase in debt load held by companies, in general... and a philosophy of only needing to cover interest. In this environment common shares are not an attractive asset (??) class.
I am torn. I really believe that the world and especially the US economy is fundamentally broken because our greatest export by far is the US dollar. I believe that there is great opportunity for US corporations globally, however the growth paradigm is as fundamentally flawed as borrow short / lend long (hedging only transfers risk, it does not eliminate it). However, that does not mean that over history some part of the global economy has not been broken at any given time or that pumping dollars into the world is wrong or won't work ... it just requires trust in the dollar as a unit of money, deserved or not. If you look through the last couple hundred years of history there have been booms and busts caused by central banks and imbalances. The insiders always win and those outside always lose... until the insiders get guillotined. I do not believe that this is any different ... except, I see no evidence that the Fed is actually trying to fix anything. Rather, they appear to be once again tilting the table in favor of insiders and if insiders are increasingly selling it means that they BELIEVE the next step in the manipulation of the economy is to make shares of stock worth even less than they are now. (who is buying though ... just the banks and Fed ... or maybe foreigners ... dunno, not mutual funds.) Or maybe the executives of companies are coming to the realization of the actual value of their shares as non-ownership betting chips and the nature of the Ponzi casino market and that the only REAL insiders are the bankers.
o weelax, they are just wanting some christmas money to buy things for the special people in their lives, isnt that helping to save the ekonomee?
So who's the dumbass that bought something?
On a technical note; how will the ratio be reported when there is not even one buyer? With imaginary numbers?
Edit: Actually, if you cross-cancel with skittles per unicorn shit, it works out.
Not to excuse the mass exodus - but IMO that could be related to increased tax rates next year? They might be just realizing their capital gains now.
hmmm. on a second thought ... if you keep your shares you don't pay any taxes. don't know. I am confused. Maybe it is just selling for real.
The trend started for real in May...when there was plenty of time to extend tax cuts.
Some credible sources claim insider selling was the cause of the flash crash. All the boyz heading for the exit at once.
You know the addage, "Sell in May and...." get the f outta Dodge.
It just recently accelerated. That could be related to tax selling into POMO.
Can't really blame insiders for selling.
This has been one of the greatest stock market rallies of all time. Stupid not to cash in some chips. These insiders are now set for life.
As for other investors, as long as the momentum is up, best thing to do is to stay long for right now, but I would not be adding new positions here.
Unless the financials suddenly explode out of their malaise, then I expect a massive rotation out of the high flying tech stocks into the beaten down financials.
Set for life? With their fiat? Get some real money like me robo. My chips are silver, and I ain't cashing in.
Platinum has just been "sold", this because it is still very manipulated by paper. Too bad we can't corner that market, yet. Oh well. Silver it is!
Maybe that's where some of that money's going. You guys always think people either play stocks or metals. You can do both and profit handsomely with both.
Not sure why so many people like to junk you Harry ....
You are correct .... never want tooooo many eggs in one basket .
Did you find that post in a newspaper from 1936?
Not all stocks are at all time highs. Market as whole hasn't even retraced the old high. Big insider selling says no confidence. Perhaps they're scared what's going to happen if Fed takes off the training wheels.
SELL SELL SELL!
--Jim Cramer
Is this the beginning of the big rush to get out the door of the burning theater?
Not the beginning, it is the end. Futures red, gold and silver holding steady, but Platinum crashes? Yes, Platinum is the one thing left they can overtly manipulate before the collapse of the FIAT system. These attempts are dangerous for the market. There is a storm that is about to come onto shore, and not too many people seen it a comin'. About to hit, maybe as soon as this weekend.
Great, well at least I will be up at my retreat cabin with the family, two 30 packs of beer and plenty of the three Bs. Oh and three freaking feet of snow.
Thanks.
I take it all the little guys get caught in that burning theatre and burn down, while the chosen few make it out unscathed.
We are seeing those chosen leave now?
Platinum was an unexpected twist for me.
I will keep an eye open for that impending storm.
Here is the rub. Those left holding paper (equities, bonds, etc) will be burned. A fire is a perfect analogy. What burns? Paper. What doesn't? Metal. Those holding REAL assets will make it out. This will end when the government is nothing (no power) and the corporations will say, 'But you need us for jobs.' The corps will ask for rights (they have them now in the 14th amendment). After we take our monie back (we are) then we will take our rights back and we will have the ability to do so because we will have the monie, we will have the silver.
Oh wow,
you are talking about "the storm" that takes the system down?
I was thinking Dow 4000 or something like that.
Pehaps we have much more grinding demoralization to go before the system actually wobbles enough to come down?
Used to think the system was really unstable and close to fail, but now I am not so sure. They seem to be able to kick that can every time.
No question when it goes... It's going to pop like a hyperinflated balloon, but when it pops is anyones guess.
Um...I'm showing platinum at 1657...where's the crash?
This is the sneaking-out-quietly phase of the theater fire. You know, just when you smell something fishy and figure to beat the crowd.
The big rush can't start until someone locks all the doors first. Meaning, nobody but the insiders actually gets out alive. No survivors is no complainers.
I agree with you analog, but with record numbers of funds exiting (that red line is going down is MUCH bigger than anything on the chart) I would say that the "sneak" part is over... They edged closer and closer to the exit and then they broke out running and hit the door...
They are now pouring out that door, and the little guy is only just now smelling the smoke up in the cheap seats....
Nailed it.
I wonder what the expert networks are advising now....."bail - just don't look like you're bailing...."
Excellent article!
Did you guys see those guys on fast money?
You can SMELL the fear!
BLAH BLAH BLAH BLAH ......OH SHITTTTTTTTTTTTTTT!!!!!!!!!!!!!!!!!!!
If it's all going to crash anyway, the sooner the better! Let it start soon!
Robo, I know you dont think things are that bad but I would like to point out that the last time there was a rally JUST LIKE THIS... was in the 30's (after the first crash) much like the first crash we had in 08...
Just sayin
But this time it's diff.....
Nevermind - asked and answered already.
you cannot simply look at this in a vacuum. there is a good possibility that the capital gains tax (short term and long) will be raised next year due to uncertainty around the Bush Tax cuts, so why not sell now? While i do agree about the absurity of market conditions, insiders who have been carrying years worth of compensation are locking in the lower tax rates.
good point.
when you couple insider selling with the weekly outflows we are seeing for over half a year now it does make you wonder where is the buying coming from to offset it? it isn't POMO because we've been net red since QE2 began.
Mutual funds? State pensions?
I think I agree with you. (too much uncertainty to completely agree)
If stocks are being sold by insiders to evade an imminent crash, I think there should be more financial stocks being sold. Although, the amount of automations stocks being sold disturbs me a little bit.
Speaking of Peak Oil.................................
By Robert Campbell
MEXICO CITY, Nov 19 (Reuters) - Mexican regulators rejected a huge chunk of state oil monopoly Pemex's estimate of how much oil and gas the country has, calling into question the long-term sustainability of the industry.
Industry sources told Reuters in April that Pemex's auditors urged the company to reduce its estimate of probable and possible reserves at Chicontepec by nearly half, which would chop the country's total reserves by 17 percent. [ID:nN16157981]
Peak Oil? we don't got no stinking peak oil!
P.S.
Pemex is rumored to have an IPO and trade publicly next year.
The Mexicans are not stupid, they will want to hang onto what they have in what they forsee as turbulent times ahead.
This could easily be a move in that direction. By preventing Pemex from being "attractive" to investors they can regulate the development of the Pemex resources without being seen as doing something radical like saying "Due to peak oil, we have decided to hang on to our Oil for our own future use. Thank You."
Besides, Peak Oil could easily be brought on at any time artificially with a few cruise missiles hitting the right terminals in the middle east.
You should consider one other reason to down-revise reserves estimates: Jedi mind tricks directed at the US State Department. "These are not the oil reserves you are looking for. We can go about our business. "
Everyone with any proven reserves is looking a lot like Iraqistan in about another 5 years. Sharing a border with the US becomes a liability rather than an asset.
You're joking, right?
Mexico peaked in 2004
Especially when a few out of control Mexican states need "stabilizing"
Looks like the animals are in full stampede.
Larry Ellison is a major seller here. He has been selling a million shares per day for the past two months for a total of $1.4B!
Now does he just need cash for another yacht or does the future not look so bright for stocks? You tell me.
He's been dumping like mad, although $1.4B is still a drop of his holdings.
Larry is going all Bill-Gates and setting up a charitable foundation. But Larry being Larry, his foundation will buy inexpensive consumer-grade speed boats for Somali pirates.
MAN OVER BOARD!!!
Oh. Never mind. Its just the last guy to jump ship. Okay my turn!
Any of them selling on material non public information? Just asking.
The use of currency to represent money may be coming to a close, but platinum, gold, silver still require mutual agreements. History and industry are on their side, but time is not.
Remember when we thought 61x sell/buy was high?
http://www.zerohedge.com/article/insider-sellingbuying-ratio-doubles-618x
By George I think I've got it....I've really got it!
I have come to believe this insider selling coupled with POMO represents the nationalization of the stock market. In this POMO driven takeover, we investors can expect insiders to sell out now, and the void they leave to be filled by POMO without any actual gains for us investors, or folks holding 401Ks or IRAs. So, Volatility will be flat (VIX), the Dow will be flat (DDM and DXD both). There may be small ups or downs in individual stock, and there will always be the Bill Gates type of statistical outlyer stock ticker symbol celebrated and promoted by CNBC, but the market will not advance enough for the 401K or IRA or or day trader or individual investor guy to make a dime. The market will be STUCK right here as POMO props it up at this level while the smart money takes their wealth out. What is left after a couple years of this fraud will be returns not better than CD's or treasuries, while the dollar continues to devalue.
This POMO crap is basically creating a broad market tax on investors.
Yes I am new here, and am drinking Pinot Noir right now, and I admit this is a sort of epiphany to me...so, please rip my opinions apart and tell me why I'm wrong....it might smarten me up a bit for tomorrow. Thanks in advance to my critics for your feedback (no sarcasm here).
The bailouts were always about letting the uber-rich get out at decent prices. Let the poor man get a loan (if he can).
Microsoft represents half the selling total. Take out the top 3 sellers and the number isn't nearly as bad.
OK, then the problem is the lack of buying.
This info is sooooo important. Listen mofo's click the fuck'nd @ds. Give back. We are now on the cusp of the kablop. Profit from it. I'm shorting HYG
Unless I missed it on the list, it looks like there will be plenty of AAPL bagholders on the inside as well as out when this pig market gets stuck.
LONG INTERNATIONAL GAME BITCHEZ!!!!!
don't want to sound niave, but many studies show insiders sell and buy at exactly the wrong time. i am sorry if this has been mentioned already. although these numbers are unique to history and any stdies.
Checkout the selling in 2000, 2008, early 2009 and all through 2010, intensifying in the last month, What does this tell us? which studies are you referring to? May be retailers are bad at timings stocks.
Following are some signs of big maket corrections:
* A big IPO making major market turning points, although this is not always true
* Quite a few secondary offerings are filed, with proceeds going to existing shareholders of the firm's stock, not the CEOs or directors of the firms (for examples, look at TRW, LLNW, RLD) - Goldman possibly dumping RLD and LLNW at profits and Jeffries upgrading the stocks at the same time, do you smell something? Blackrock and the CEO of TRW dumping TRW as secondary offerings, what gives?
and Syntel SYNT...
* Directors and 10% owners dumping millions of stock
* Mutual funds dumping millions and even billions of dollars of porfoilios
With all the Dark Pools and potentially "massive" insider trading at most TBTF institutions +Hedge Funds..
IS IT ANY SURPRISE.. that the retail investor is confused?
Still it cannot be dismissed as unimportant in the big picture..
The ECRI has just posted something and they are positive: http://www.businesscycle.com/news/reports/2017.
If they are positive regarding the economic growth, would the market still go down is a question. Also, with Goldman holding more than 4 billion worth SPY (their biggest holding) as of Sept 30th and the POMO being run through Goldman, do we think, it will let the market go down?
More likely indicative of an impending capital gains tax hike for 2011. Would not be surprised if most of the proceeds of these sales winds up going into commods. Too bad there isn't a way to confirm (track) that theory.