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Insider Selling Outpaces Buying By Over 290-To-1 In Past Week
According to Bloomberg,
for the week ended September 17, corporate insiders bought $1.4MM in
shares in a whopping 7 different companies. This was just marginally offset by sales of $441MM in 98 different companies, a ratio of 290 to 1 of stock notional sold to bought. But wait: this is GREAT NEWS: last week the ratio was 650 to 1! So this is a huge improvement and certainly yet another reason for today's rally, even though last week total notional sold was $332 million, or just under 25% lower, and sellers came in well lower at "just" 72. But who needs details when you have the Fed... Certain not retail, which has now pulled money out of domestic stock funds for 19 straight weeks. So for those wondering just who is orchestrating today's move higher, please let us know if you find out.
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insiders, what the hell do they know ?
get while the gettin is good
Silly fools must be trading on fundamentals!
LOL. I had just taken a big gulp of expresso when I read that and I still can't swallow it...
woah big gulps of expresso at 3:15 eh? alright...well....seeya later!
Tyler, sorry for the OT:
Please post this link and copy the article on ZH before it goes away..
http://www.cnbc.com/id/39265847
UK Proposes All Paychecks Go to the State FirstShould make for some pretty funny comments..
It's the Charlie Munger method of government
Yeah, we should suck it in, let the gov't have our paychecks, and be glad with whatever they decide to let us have of our money. It's the least we can do to keep our gov't from collapsing.
The ultimate in moral hazard, completely shielding the government from its (in)actions.
Resistance is futile
www.youtube.com/watch?v=WZEJ4OJTgg8
Very sobering. Just swallowed by expresso.
awesome
saved
What's really funny about this ?? The concept comes right out of the Fabian Socialist playbook.....except for the brazeness, which definetely is not the Fabian way. Ah yes...the State becomes the ultimate wealth distributor. It's gettin' closer every day.
What could possibly go wrong.
Fools. Ever one uv em
While insider selling normally outpaces buying on average by 20 to 1, this is a bit extreme. Sounds like the rats are leaving in droves. Just in time for the AIA bullish reading to go through the roof.
Here kitty kitty kitty. Nice kitty cat.
Interestingly enough, were we not commenting on the extreme sells to buys this time last year???
The rats may be leaving a sinking ship... but it appears to be a slow leak.
Until it's not.
I seem to remember the insiders bought in droves in 2001. And were subsequently under water for quite a while. Am not trying to negate the meme on this site, I merely suggest that insider dealing can be wrong in both directions.
Having said that, I would be interested to know if insider selling carries more weight than insider buying in terms of being a reliable signal. I suspect it may well be...
Can't speak to which has more weight - buying or selling. When looking at individual companies, I always look at insider transactions before pulling the trigger. But it's also who is doing the buying or selling, and what is their track record. There are some stocks where a few key insiders have had remarkable long-term timing - selling at major tops and buying at major bottoms. Those guys I track on a regular basis.
Then again, I've passed on stocks where I loved the technicals, and fundies, but didn't like the massive high-level insider selling, only to have the suckers get buy out offers several weeks later. C'est la vie.
Indeed. In fact, why do we need fundamentals and earnings? We can fabricate those. Jobs? The government provides everything... beats having to deal with annoying co-workers and actually having to produce anything. And last but certainly not least, real estate. Hell, demographics and supply/demand be damned!! Prop up this market so money can get back to work. Who cares about valuation on ANY asset when the Fed is buying! (all sarcasm) I think I'm going to be sick.
Bears were destroyed today.
Prior highs have been cleared.
Breadth continues to improve, as the oil service stocks turned up today, more sectors are participating now.
At this point, they are going to run this bitch to the top of the flash crash. Then we'll see how strong this "rally" is Robo. (I didn't junk you)
Looks like a prime example of "chart painting" to me.
Running this back to the top (before flash crash) levels is funny when you think about it; we have all these 'positive developments' (sarcasm on), and yet we are below the point where the FC started from.
I did not junk you either Robo...
X and IP did well today
Gargle my ball-sack, Robodoosh
Pictures please. Or at least links to pictures please. :>)
Contrarian indicator? All retail (including insiders) are fleeing: ergo the fed steps in and the markets go higher!
Simple.
Tyler, i think you really owe an apology for discrediting Mr. Doug Kass. You see, his call has been right up until now and it certainly looks like we,ve seem the lows for the year. Who cares the Fed is the sole buyer.
I apologize. (I made fun of his BAC & market call. I am eating crow today) Fuck!
Actually i forgot to apologize myself. Why the hell did i think i was smarter than him :)
Doug Kass is short again now.
Maybe he will wait for 11,000.
Good thing he said on Friday he was starting to short the market. Impeccable timing.
That was bait for the fools.
It's a battle royal between HAL9000, Skynet, V.I.K.I, Data and R2-D2.
I take r2-d2
Hard to be bearish when AAPL, BIDU, GOOG, etc. are acting so strong, and many are making new highs.
Shorting in this kind of environment is suicidal.
Which is why no one
is short. I might
add that you are sounding
more and more like
a pump monkey from
the dotcom era.
you're probably right, they're "acting"
The bears aren't short, they are long gold:
http://www.bullionbullscanada.com/index.php?option=com_content&view=arti...
What, no HUI plunge picture today?
net jobs are being added. Take off the Tin Foil Cap.
Unemployment has been dropping like a rock and should be around 8% by the time the new congress takes session in early 2011!
Got it?
No Great Depression 2.0! The worst is behind and is now quite difficult to see taking a look into the rear view mirror.
Once again today, SHORTS HAVE BEEN SLAUGHTERED!
Ben Bernanke, you are no.1, hun!
Go back to the Marketwatch boards, Babyfag
The US lost only 8 million jobs during the Recession. Since the Recession ended mid-last year. The US has been adding at least 50k new private sector jobs per month.
Ignore the Tin Foil. Yes, it is slow and will remain slow until 2012. Meanwhile consumers and investors SCRUB away at their balance sheets while the economy continues to recover!
Surely you are a troll if you are saying "while the economy continues to recover!" Otherwise, you're just an ignorant fool.
Or he hasn't heard that Romer's position has been filled by Austan Goolsbee.
Or maybe he is Austan Goolsbee?
Note that none of these options are mutually exclusive (not even the last one).
toathis, that is AT BEST 4% on the private sector job creation & you deem that SLOW? Ummm Order of Magnitude calling - they would like you to get an education PLEASE!
My question to you is simple, what is the impetus to create the balance of the required jobs? which sector(s)?
What frustrates me is the fact that the 'recovery' mantra never has provided a comprehensively cogent & credible storyline/timeline - the government stimulus has provided the 'sugar-high' of 2010Q1 & each quarter there after has seen CONTRACTION - I wish you were correct - no one want to see another recession, but, there is a material issue that needs to be addessed in America - the return of critical thinking OR you can watch CNBC's Quack Box & purchase more posters of Bob Pisani!
There will be plenty of jobs wiping rich, old people's butts.
bankster troll
Whos economy is doing good? point the way! Its not in the USA where housing and cars are in decline, no jobs, no product and losta government paper tightrope around our necks.
Shills or fool? which are you?
Net jobs are being added (ROFL, LMAO), really? Would you please elaborate where so many of us were wrong?
Unemployment dropping like a rock (ROFL, LMAO), really? Where, and what sectors have added so many jobs?
The worst is behind us (ROFL, LMAO), really? Glad you are here, are you a Registered Psychic?
Might the surge in insider selling in part have to do with pending changes to the federal tax code set to take effect in 3 months?
Good point. Maybe getting an early start on cost averaging out. Let's see if this trend continues...
That could be part of it, and part could be because they need to. Just like the little people are supposedly drawing down their 201K's to make ends meet these corporate types have lifestyles to maintain also.
So, do we call that a prime short list?
so does spx drop 40 handles tomorrow when the fed doesn't give the market any new QE? Either way, this is going to end in spectacular fashion! Quite frankly, with stocks up here it hardly seems necessary to use the emergency measure of qe to further "stabilise asset prices". In fact, to stabilise asset prices they might need to do the opposite!
When it ends, its going to end so, so badly.
And in a "flash"...
ha, yeah, when it turns i doubt there will be any bids (except the government).
SHOCKED, totaly shocked you have to confidence in Barry, Timmy, and Ben? yoooo yeeeee of little faith
+1 - Forgive me oklaboy, but I have SINNED!
So while insiders sell, they direct the companies they control to borrow billions to buy back shares, pushing up prices...Hmmmmm
I am stunned - 10 year yield down almost 30% from 1 Jan - USD hitting new lows, oil prices BARELY able to hover near $75 per barrel, headline unemployment @ 9.6% - bailouts continue unabated & the DJIA at 10,753 - TD & crew this is where you post on Charles Munger (one of your best) reflects the true reality - Wall St is insulated they have no fear as the government pumps $$$ in and leaves the taxpayers the bill - If Obama & his 40 thieves had any integrity left whatsoever they would allow the equity market to support itself & divert capital to work on the REAL economy -
Odooshbag never had any integrity in the first place
What do you think those odds are?
Sheesh.... 290-1,
To think way back in the day we used to equate stock to a claim of ownership.
Already posted this on another thread, but it seems more relevant here.
Here's ZIRP at work for the corporate CEO.
Step one: issue bonds at a record low rate for your company
Step two: announce a share buy back
Step three: sell some of your own personal shares
Step four: wait for increased earnings-per-share to impress market
Step five: issue bonds at a record low rate for your company
Step six ....
Buybacks Jump as Companies Borrow for Stock Purchases (Update2)
By Lynn Thomasson and Alexis Xydias
Sept. 20 (Bloomberg) -- Record-low interest rates are stoking the biggest increase in U.S. share buybacks ever.
American companies announced $55.9 billion in repurchases since June, data compiled by Birinyi Associates Inc. show. That adds to $93.5 billion in the second quarter and $108.3 billion during the first three months of the year, compared with $125 billion in all of 2009. Corporations are using debt to pay for buybacks after the average yield on U.S. investment grade bonds fell to an all-time low of 3.70 percent last month, data from London-based Barclays Plc show.
Companies from Microsoft Corp. to PepsiCo Inc. and Hewlett- Packard Co. are taking advantage of low-cost financing, purchasing their stock to boost per-share earnings at a time when the Standard & Poor’s 500 Index trades at a 26 percent discount to its average valuation since 1954. At the same time, choosing buybacks may show executives are too concerned about the economy to invest in new projects or make acquisitions.
“It’s so cheap to do it now in the bond market: issue debt, fix their cost of capital, then shrink the number of shares outstanding,” said James Swanson, chief investment strategist at Boston-based MFS Investment Management, which oversees about $197 billion. “The markets are almost calling for them to do it.”
I suppose they've cooked the books to cinders and fired everybody to the bone trying to beat the EPS est. Time to open Door #2. They all know Wall Street goes full memory delete within 24 hours.
Apologies, off topic again, but I've just finished watching 'Stephen Fry In America' here in the UK - it included an Abraham Lincoln impersonator reciting the Gettysburg address - 270 words in less than 2 minutes.
Meanwhile we had Mr Obama today on CNBC for an hour...saying nothing.
Hmm, sort of puts it into perspective.
DavidC
No doubt. Lincoln was the real deal in leadership. Obama can't say who he really is or where he really wants to take the country, because the large majority, having common sense, don't want to go there. So he has to lie constantly.
Abe couldn't lie. Obama can't not lie.
Abe went through hell in office to save the Union. Obama is taking the country to hell whilst dividing us with his assinine rhetoric.
Abe was arguably the best. Obama is arguably the worst in the works.
But haven't the company insiders heard? The recession is over, and happy days are here again. They must not be spending enough time watching tv.
That's funny, I don't see the Bloomberg piece.
Imagine that.
there are a lot more upside room in US equity market
Your exactly right, they are getting out while the gettings good. They know that this market won't last long, and they want to get out and/or reposition while they still can. Because if they wait and everything tanks, then they will be among the millions trying to get out.
The insiders jump ship while the pensioners are stuck in steerage.
http://www.youtube.com/watch?v=pj-1b1Yvep8
Thanks for such a great post and the review, I am totally impressed! Keep stuff like this coming!...
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Yeah, we should suck it in, let the gov't have our paychecks, and be glad with whatever they decide to let us have of our money. It's the least we can do to keep our gov't from collapsing.
i liked your approach.
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Yeah, we should suck it in, let the gov't have our paychecks, and be glad with whatever they decide to let us have of our money. It's the least we can do to keep our gov't from collapsing.db2 practice exam
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$332 million, or just under 25% lower, and sellers came in well lower at "just" 72. But who needs details when you have the Fed... Certain not retail, which has now pulled money out of domestic stock funds for 19 straight weeks. So for those wondering just who is orchestrating today's move higher, please let us know if you find out.testking HP0-Y31
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