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Ratio Of Insider Selling To Buying: 3,700 To 1
This is kinda like if one is a 2nd year corp fin analyst, and just as the 300 tab excel model showing the massive synergies from the pitched M&A deal is supposed to be presented to the client, the whole thing #Refs out... And hasn't been saved for days. According to Bloomberg, in the last week the ratio of insider selling to buying on the S&P was 3,700x.... 3,700x!!!!!
Source: Bloomberg
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to quote Jamie & Little L-L-L-Loyd: "so??"
It's a smart money/stupid money indicator (insiders are in the know). Usually pretty accurate, although is can be an early indicator of a selloff.
I've said on many threads that a major crash is coming no later than this fall and I still hold to that view.
fully aware, thanks. and the mofo better come way sooner than this fall. was playing with Jamie & Lloyd - they could give a shit....they're already got "theirs"
I've been seeing these numbers up on ZH for a long time. I'm curious if this statistic has been logged over a historical period to know what is "normal". What was it like in the 90's when everybody was buying like crazy? Over what periods was it below 1?
Using the raw numbers here is massively misleading as it ignores that most sales by insiders are as a result of option grants (i.e., options exercised and shares sold immediately).
To get a useful number you need to either 1. do a lot of homework to net out these sales or 2. look to someone like InsiderScore to do it for you.
Assuming you got to the correct net/net number you would then also have to assume that insiders had material information that you didn't about market direction (which, in an era of very high correlations, they probably don't). Where I have found these number useful is 1. as a confirmatory information in putting on pairs trades and 2. looking to where selling stops (usually a sign of something positive about to happen - i.e., you can't overtly buy on inside information but nothing says that you have to sell ahead of what you (as an insider) consider to be good information).
I generally laugh when I see these stories on ZH as it confirms my view of ZH's tendancy to hyperventilate at the slightest whiff of bearishness.
Or, and here's another though, you could actually do some homework, to find the answer to the simple question asked of you and sourced from a publication that has a tendancy to hyperventilate at the slightest whiff of bullishness.
Good for you Mr. Durden; that ought to shut him up for awhile.
Gee. Are you such a perma-bear that you can't handle any opposing views?
FWIW, I'm no raging bull (I was lined up short today and took home mid-5 figures in my personal account - not counting the 2/20 from my fund), but I also understand that markets can go up in secular bear markets (hence the last couple of years) and if you are either a perma-bear or bull you are going to miss a lot of opportunities.
I guess I SHOULD just shut up (as you suggest) and let my trading programs take your money.
Cheers.
you do realize the article said nothing about being bullish/bearish, you drew those conclusions yourself>?
tyler has posted insider ratios many times, granted it has only been the most ridiculous ratios lately.
claiming profits in dollars and not % is meaningless to demonstrating how much better you are than the rest of us. speaking of which why is someone so blessed with market acumen even reading this commoner shit?
finally, you don't need a magic program or almost any intelligence to realize that a ratio this skewed is not normal. it may not mean the market will crash tomorrow, next week, or next year, but it in no way shows insiders as having confidence that their stocks are accurately priced. just because an executive receives options does not mean they are all going to sell week after week month after month.
You're right. I drew that conclusion on the basis of the wording of the post and my view of ZH's general bearish skew.
You are right again. The percentage gain was actually very small (approx 100 bps) as I had overhedged my long exposures to produce a very mild net short exposure. My personal account trades tend to be day to day as opposed to my fund trades which are much more aggressive in terms of shorter trading time horizons and leverage. Needless to say we were net short in the fund and did a little better than 100 bps (I have a very strict confi so cant talk about that more even if I wanted to). My only point here was to establish the fact that I wasn't talking my book.
As to why I read ZH. I read a lot of sources, some of which I agree with and some I don't. Reading ZH has given me good tradable ideas in the past and I will continue to read it (understanding it's bearish bias).
I'm not so sure about that. Just looked at the overall InsiderScore data as of July 7 and it showed a slight bullish bias (see ISDR[GO] if you have a BB terminal). As indicated above, I don't put that much faith in this data, but I have even less faith in the raw data cited by ZH (also FYI - the chart Tyler put in the comments sections seems to end in May).
Actually, that is exactly what they tend to do. You should take a look at 10b5-1 plans if you are interested in the dynamics here (see also my earlier point, and if my recollection is correct, 10b5-1 plan sales cancellations <> insider trading). My overall point was that you need to filter out the planned/option exercise sales (and other factors) to get usable data here, and even when you get that data it has limited (NOTE not 0) usefulness regarding the overall market direction (however it does seem to be more useful in forecasting the relative performance of individual names).
In my opinion, the insider buying and selling data set has tradable information contained in it, but simply to post "3,700x.... 3,700x!!!!!" and let readers draw the simple conclusion that this is bearish is overly simplistic and potentially bad for the P&Ls of traders who may not have experience with this data set and its intricacies (BTW, we are a quant shop and we don't even crunch our own numbers in this area). But if you disagree with me I'm not going to loose any sleep over it.
Well that's enough for the evening. This has been an interesting diversion while watching all of the crashes on the Tour today (I had forgotten how tiring posting on ZH can be). BTW, can you believe a press car hit two riders in the breakaway group today including new holder of the Polka-a-dot jersey. Now THAT is F@#Kin ridiculous....
Tyler is far to polite.. IMHO.. so I will say it, you are about to get caught in the next two weeks.. unless they announce a settlement for the debt ceiling.. the floor is going to disappear.. and you are not name brand enough to have your code on silicon. which for those that don't know what that means, he doesn't even have a chance at a chair when the music stops. so you dance instead of taking a vacation, lets hope that only the most polite people have trusted you with their money.. god forbid you have a client like me, who would have you fall on your own sword.
You obviously either 1. haven't been reading my posts or 2. don't have the analytical ability to understand even the simplified version of my argument that I have discussed above. BTW, can you actually tell me what your logical issue is with the core of my argument?
You are obviously also a very angry person who spends way too much time on this site posting.
Here is a shocker for you. I was trying to be helpful to people (something I think I will avoid in the future) who haven't spent the last 20+ years of their lives in front of computer screens watching the market move tick by tick, and don't have exposure the the insider sales data set.
Here is another shocker for you since your reading comprehension seems to be suspect. I am net short in both my fund (in which btw I have a significant personal interest) and my personal account. So unless you tell me that the OEX is going to be up 1000 bps overnight - I'm going to be sleeping fine.
BTW, thank you for your wishes of good luck in trading (not that I believe in luck but..). It is so nice to see someone who is not suffering from a major case of anticipatory schadenfreude. Please DO try to hold your breath until I am forced to liquidate my fund (an appropriate response given your apparent age). I'm sure it won't be that long at all - I'll let you know.
Cheers.
you can derive good information from anything you choose too..
my message was clear. You are the 13th man incue on a twelve man line.
I hope you are short oil.. I would hate for you to have to unwind all that would be sub second stuff you were lag-edout of to begin with.
Good Luck with the bullish, bearish approach. do you fuck your wife or does she fuck you? I only ask because you seem confused on a few things, I am wondering if your professional confusion carries over into you private life as well?
as long as you can afford it! as long as it is safe sex! have fun! you only live once.. but if you allow that ego to write checks your body cant cash with all the confusion that is in the market place right now.. well, I have warned you what could very well happen.
I will say it again, Better safe than sorry! Oil ='s the ONLY FED approved short.
So you have lots of Fiat money, Booyar
LMAO. Mr Durden is nothing if not funny.
On a more serious note, if you feel the need to trade on the basis of this chart alone Tyler please feel free. Good luck.
On a most serious note, if you feel the need to trade on the basis of any chart alone or in tandem with any chart, not to mention any other data, real, imagined, or manipulated, please feel free. Good luck.
on a 'less' serious note (not that any of this is actually funny)
"golden parachutes" & "golden showers" seem to be in high season...
That was sort of the point - I guess my sarcasm got lost in translation.
Have a good night.
You missed the point completely. This is not trading advice. Much here at ZH is the shining of light upon a very sick marketplace. It really is as simple as that.
Everyone missed it.. even Tyler because he works for a living..
Mr. 2/20 has to sell his clients on the fact that leaving money in the market when Pomo Lite (or the retirement funds, $62b left? ish?) is running out of gas, is the right thing to do.. thats how he makes his money, selling someone something.
I dont give a fuck if he brings me my coffee or has a float of my money.. the help is the help.
The fact that this Bloomberg info does carry an immense amount of weight with people who have money out and who cant be bothered to complete elongated mathematical equations.. is what the help, Mr. 2/20 is angry about. Tyler providing real, easy to digest information for those who wanna know but dont wanna know that much, is a God send.
So, Tyler! Thanks Bro! and dont worry about Mr. 2/20.. his paper wealth is at risk and as well his client base.
Toodles!
http://www.youtube.com/watch?v=tWfDm_bqwUU&feature=share
Did Positive Thinking Wreck the Economy? - Barbara EhrenreichCheater5 - your original point was the S&P's insider selling to buying ratio of 3,700 to 1 is "massively misleading". That's the numbers (facts). How precisely have you been misled?
Mr Durden
First of all, I really love your website, and I'm more than a little excited to make new friends around here. I haven't been this excited since I joined the Verizon Friends and family program.
Secondly, over the past year, this chart shows no real conviction one way or the other. However, equities have had a nearly uninterrupted 25% climb that would qualify as one of the most bulletproof bull markets in history.
So.... all I can really deduce from this chart is that the insider buying/selling ratios have utterly no relevance whatsoever.
Was this the point of the article? That insider transactions mean nothing?
- Max Fischer, Civis Mundi
The point of the article is that there were 3,700 more insider sales than buys in the past week. If you feel that data is irrelevant, you should probably ignore the weekly post that looks at insider selling and sometimes occasional buying.
Ok... that was very clear. In the future, I will ignore it.
Thank you.
- Max Fischer, Civis Mundi
Yourself and Cheater5 are failing to connect with Tyler amid the nuance of marketplace vs. market price, they are distinct and do not necessarily correlate with one another.
I don't understand what you are getting at with your statement. Are you saying that insicer sales data indicates some sort of market dislocation that is not yet reflected in the price data? If so that was never my point. My point all along has been that the raw data (which, unless someone corrects me, is what I assume is ZH has been quoting) can be massively misleading (see above).
But hey, I'm always ready to be proved wrong. If someone has a study that shows a statistically significant correlation (or, better yet, a lagged correlation) with the raw data and index prices and the kurtosis isn't to high, I'm all ears.
on Mon, 07/11/2011 - 20:35
#1446067
Ok... that was very clear. In the future, I will ignore it.
Thank you.
- Max Fischer, Civis Mundi
*********************************************************
How much did POMO effect that 25% bull market?
If POMO is drying up.. and people are pulling the eject switch..
I guess you are one of those cases of "You cant fix Stupid".
POMO?
Tyler made it very clear a few weeks ago that POMO doesn't exist. All the QE2 money went to foreign banks.
- Max Fischer, Carpe Hunc
with all of the charts of who bought and who sold back.. can you source me a foreign name? thanks for playing.
Is Cheater overlooking the main point? There can be a million reasons that an insiders sells...to raise money for a million different things...diversify...etc. But there is only one reason on this earth why an insider would buy his own stock...he thinks he will make money and they are not and have not been doing this for a while.
I don't think I'm overlooking the main point. While I generally agree with you on purchases (putting aside what I suspect are the statistically insignificant senior executive buys to bolster confidence and .....). You still need to look at the numerator and filter the data on sales. In order to assume that the raw data sells/buys fraction is useful, you would have to assume that the planned insider sales data is not lumpy (i.e., that all weeks have a statistically insignificant variation in the amount of planed insider sales for that week so that you could essentially ignore them and use the week to week delta's in both the insider sales and buys as the relevant data). I'm reasonably sure this is not true and even then you are effectively filtering the data.
Again, I'm NOT saying that the insider sales data is irrelevant, what I am saying is that it needs to be filtered to be relevant. And then even if it is filtered it doesn't necessarily have a high correlation to OVERALL market returns as opposed to individual name relative performance. Consider thinking about it this way - corporate executives know their business and their expected cash flows, but they are not necessarily good traders of the market as a whole. So hypothetically if you get a lot of net insider buying in say Apple vs a lot of net insider selling in Rimm, you might consider doing a pairs trade long AAPL/short RIMM, but you may not want to go out and start buying massive amounts of S&P futures.
Cheers.
If you have any data showing this ratio (bearish or bullish) occurring in the past, please share.
Sounds like sophisty.
WTF is wrong with you ?? The amount of one sided insider trading across all these different businesses is an indication of what these Companies management thinks about the future of their stock. Why the fuck would they sell their options if they thought the stock would be going up any time soon. Better yet, why not correlate the massive insider selling with which companies are doing stock buybacks at the same time ( in order to prop the price up while the insiders dump theirs ). Yeah , you cant trade based on this factor alone, but it does help formulate a better informed macro view. Keep up the ass kicking work Tyler, thank you.
Your economy of words is a thing of beauty.
Why the fuck would they sell their options if they thought the stock would be going up any time soon....
Perhaps you could ask Steve Jobs the same question. When AAPL was at $250, Jobs "worst trade ever" was calculated to be a $10.3B mistake. So with AAPL at ~$350, it's quickly approaching a $15B-20B mistake.
http://www.marketwatch.com/story/apples-steve-jobs-blunders-on-options-s...
Insider selling/buying is rarely an indication of what executives think about their stock. Did Dick Fuld sell? What about Jimmy Cayne? Chuck Prince? There are thousands of examples of executives selling years too early, and thousands of examples of them keeping shares straight into bankruptcy. Not to state the obvious, but if the executive sells before negative material information is publicly disclosed, he goes to jail. So how reliable can this ratio possibly be?
For you to get hooked on such a transparent propaganda piece speaks volumes about you.
- Max Fischer, Carpe Hunc
Sigmund Freud, of course, made the same mistake as you; viz., he tried to draw general conclusions from a few, specific, aberrant examples. In other words, from a few wackadoodle patients, he concluded that all men want to sleep with their mothers. Well, for one, I know that I do not. (Although I do want to sleep with your mother, maybe.)
As he once told his daughter: "Sometimes a cigar, Ingrid ... is just a cigar."
Oh, by the way, I really am not sure what lesson can be drawn from Steve Jobs not knowing back IN MARCH 2003 that Apple was going to hit $250 or $350 or anything close. Not only did his decision predate the undeniably surprising successes of the ipad, iphone, and all the other icrap, but the current valuation is even so absurd and artificial, and it would have seemed only more so back then. Sheesh. Next you're going to criticize and/or try to draw some lesson from the fact that my grandfather did not purchase ALL of Boca Raton back in the thirties for the pittance it was offered to him then?
on Mon, 07/11/2011 - 19:11
#1445799
Using the raw numbers here is massively misleading as it ignores that most sales by insiders are as a result of option grants (i.e., options exercised and shares sold immediately).
To get a useful number you need to either 1. do a lot of homework to net out these sales or 2. look to someone like InsiderScore to do it for you.
Assuming you got to the correct net/net number you would then also have to assume that insiders had material information that you didn't about market direction (which, in an era of very high correlations, they probably don't). Where I have found these number useful is 1. as a confirmatory information in putting on pairs trades and 2. looking to where selling stops (usually a sign of something positive about to happen - i.e., you can't overtly buy on inside information but nothing says that you have to sell ahead of what you (as an insider) consider to be good information).
I generally laugh when I see these stories on ZH as it confirms my view of ZH's tendancy to hyperventilate at the slightest whiff of bearishness.
***************************************************************
http://www.youtube.com/watch?v=tWfDm_bqwUU&feature=share
Did Positive Thinking Wreck the Economy? - Barbara EhrenreichIn this case the raw numbers are not massively misleading.
In the entire corporate universe of US listed and SEC regulated companies- a grand total of 3 firms had insider buying valued at a combined USD70,750 (i.e. less than the median single household income in Switzerland).
It just depends on what you look at within the raw numbers.
I agree with you, I believe a major crash is coming this fall that will harken back to Dow 6,450 in 2009 or more.
So: My brother believes the sky is about to fall.
I also believe the sky will fall, but just when is the question.
They say that a drowning person comes up for air three times - so get out your slide-rules.
I guess some folks don't believe in QE3.
Or the money is best speculated somewhere other than long equities.
Yeah, like hookers and blow.
+3700
+ 2 and 20
Holy crap! Someone's buying! Better load up while the gettin's good.
Smart money....Cha....sarc off....
300 tab excel... #ref... brings back really bad memories!
Although it was many years ago, the panic of my #ref moment is seared in my memory.
This is a bullish contrarian indicator. BTFD.
A new generation of bagholders need a lesson in Ponzinomics.
Why buy shares when you can just award yourself more for free?
+1000...
Why work or innovate when you can just 'gut' your company from it's innards & sell to Brian Sack?
Nice! Wonder how many of these stocks are at or near all time highs...CMG? check. NFLX? check...
They are all generating cash to go long the Facebook IPO.
LOL. Well, somebody will have to buy it.
Outstanding!
This insider buying/selling ratio is very misleading, and provides very little insight on whether or not an executive has faith in the share price of his company.
Where are the charts that show how much compensation was paid to executives in the form of stock awards?
In January, Lloyd Blankfein was awarded $12.6M in GS stock. The only time this stock would appear in these buying/selling ratios would be on the sell side. If executives like Blankfein thought their stock was over-priced (as these articles about buying/selling ratios are trying to imply), they wouldn't be taking large portions of their income as such.
These stock awards happen a thousand times a year.
- Max Fischer, Civis Mundi
" they wouldn't be taking large portions of their income as such."
Horseshit. Of course they would. It's the only way to get the big lootz these days, and it makes your income cap gains, which is a lower tax rate.
As well, given that the return on cash is below the rate of inflation, if divi's and stock prices were higher than real inflation, why sell?
Really poor statement there, bud.
+1
These days... Stock awards are sol to Brian Sack at the first opportunity... The proceeds are then use to fill pallets full of metal ingots in warehouses in downtown detroit, or stuff container ships full of crude in Singapore harbor...
Why are there even any insiders left after all this insider selling for months now ?
Who is an insider anyway ?
I know that I am an outsider.
I want in.
Just in case anybody has doubts [about what's wrong], here's an anecdote. Before the 2007-08 deal, I was perusing "insiders" for fun, and I witnessed this: some Mid-size oil company exec "exercised his option" on some shares, sold them the next day and took in $2 fucking million. TWO MILLION A DAY. Now, that's just one pip-squeak among thousands, of individuals and transactions. You wonder why we got "problem"?
Triple H.
Hang him higher.
leo says its a great time to buy........
Leo still thinks this is the 70's and he's 'Scaramanga'...
Someone give him a 'purple nurple' on his 'superfluous papilla'
Hurry Sell, Sell, Sell! the Retirement Fund is almost dry!
http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html sorry that was back in 2006..
Today, very quietly, the Treasury released its latest refunding announcement, in which it disclosed it would issue another $66 billion in 3, 10 and 30 Year notes next week. The irony of course is that the US is and continues to be at its debt ceiling limit (or just $25 million short of it), at a total of $14,293,975 million. Furthermore, as was also disclosed by the Treasury, this gross issuance will also be the net amount added in marketable debt, as upon settlement on June 15, there will be no redemptions of maturing bonds. Which simply means that the continued "disinvesting" (which is merely a polite word for plundering) from intragovernmental debt, also known as retirement accounts, is about to kick into high gear. As a reminder, the only solution that Geithner currently has to run the government, at least until August 2 when even this runs out, is to slowly drain the debt in non-marketable accounts, in the form of Suspension of G-Fund and ESF reinvestments, as well as the Redemption and suspension of of CSRDF Investments, measure which when combined will provide a short-term buffer of $232 billion.
http://www.zerohedge.com/article/treasury-continues-dip-retirement-accounts-prepares-take-out-66-billion-chunk-make-space-new
tyler, correct me if im wrong, historically, this is not an accurate indicator of where stocks are heading. its about sentiment, which can turn on a dime. i believe in late 2009 insider selling was rampant, and the market clearly hasnt followed those footsteps.
kito, correct me if im wrong, you have ulterior motives for posting here.
ive already been outted as a double secret agent for the global banking cartel kleptocracy. im of rothschild blood. tyler is ok with it.
Never noticed what a rots child turd looked like until now...and hey, I am ok with it too!
Glad you're here secret agent man.
I mean no offense.
You just raise my ignorant hackles like few others.
correct me if I'm wrong, but...
Whiskey Tango Foxtrot gives a FF where 'stocks' are heading?
does anybody (except for the aforementioned clowns [who, BTW, are selling @ 3,700-1], or alligator algos even own these things for more than a coupla nonoseconds anymore?)
its about sentiment
First post here ... solve the captcha ... k .. good.
My opinion would be that if the ratio was 22:1 or 50:1 or 100:1, you could say that it was a bearish sentiment.
3700:1 though .... looks like consensus to me.
welcome to the common sense club..
no worries! here like every where else!! common sense is not so common!
so it is nice to have another logical person to speak with.
Hey, thanks for the welcome.
Looking at the data the first time, I thought "Is this just some abberation?" but looking closely at the numbers, I get the feeling that it definitely is not.
This is a rush to the exits. Or a classic pump n dump. Fed pumps, corporate holders dump.
Oddly enough, I think Netflix will be the beneficiary of any crash. I remember in my home town back in the 80s when the steelworks laid off 10,000, the local television station really picked up in viewership and revenue. Average daytime viewing increased by about 10,000.
on Mon, 07/11/2011 - 18:24
#1445649
tyler, correct me if im wrong, historically, this is not an accurate indicator of where stocks are heading. its about sentiment, which can turn on a dime. i believe in late 2009 insider selling was rampant, and the market clearly hasnt followed those footsteps.
*********************************************************
so either you are believing that your positive vibes are going to some how carry you safely thru to the other side..
or you have a client base that needs to be sold on the idea that being in the market right now is safe..
before the fall off the cliff, that is about to happen.. I would encourage you to get out of the market.. go take a vacation for 2 weeks.. and please dont lose a large amount of anyone else's money.. people sometimes take that pretty seriously.
Better safe than sorry, when it comes to the FED running low on POMO monies.
http://www.youtube.com/watch?v=tWfDm_bqwUU&feature=share
Did Positive Thinking Wreck the Economy? - Barbara Ehrenreich"This is kinda like if one is a 2nd year corp fin analyst, and just as the 300 tab excel model showing the massive synergies"
Excel? In 1990 I was using Stern/Stewart to model mergers. I guess I had it easy.
that one person was robotrader buying lululemon!
LOL!
Corporate insiders have finally gotten the message from the Barnank and TimmyG - why not sell sell sell when the (lack of) laws allow you to replace what you sold with an inkjet printer? The Fed is a massive ponzi so why should corporate Amerika not follow the pattern?
Corporate Amerikkka s a bunch of golf playing fascists.
yeah and we are not even half way through a 20 to 30% correction
Well that explains the shortage of Mountain House foods.
oh on the fed and any QE3, it will have to be a trillion + for any new highs.
lotus 1-2-3, bitchez!
Improv was a much better product.
Isn't that a new normal permanent high plateau?
I question this article's validity, as "Source: Bloomberg" is reminiscent of an eighth-grade English student claiming he found something in Time magazine. Without a month, year, or page number. When I attempted to Google this data from Bloomberg, I got 12 other websites citing this ZH posting as authoritative.
I love ZH, but allowing posts like this is bullshit.
You do realize there is free Bloomberg and there is paid Bloomberg data that is only available to subscribers of the service. Right? And in case this comes as a shock, here is what you would see if you could afford the $2000/month service. Also, for the dumb 8th grade student, please advise how one should reference a page number on a website. We eagerly await your input. In the meantime, if you prefer data that is pendantically and methodically sourced with foot and endnotes for your recreative pleasure, may we point you to the general direction of Paul Krugman and other Nobel Prize winners?
Normal 0 false false false EN-US X-NONE X-NONE Normal 0 false false false EN-US X-NONE X-NONE
Weekly Insider Buying and Selling by S&P 500
Companies
2011-07-11 12:00:17.434 GMT
By Bloomberg News
July 11
(Bloomberg) -- Following is a list of companies in the Standard & Poor's
500 Index with shares bought and sold during the week ending July 8.
The figures
are compiled from Securities and Exchange Commission filings by Washington
Service.
*T
TOTAL PURCHASES BY INSIDERS
Amount # of Avg.$
Tkr. Company
Name Bought($) Shares /Share
=============================================================================
EQT EQT
Corp
36,817 701 52.52
PNC PNC
Financial Services Grou
24,580 410 59.95
BBY Best Buy
Co Inc 9,353 299 31.28
TOTAL SALES BY INSIDERS
Amount # of Avg.$
Tkr. Company
Name Sold($) Shares /Share
=============================================================================
GOOG Google
Inc 45,385,686 85,388 531.52
APOL Apollo
Group Inc 27,422,578 580,444 47.24
CMG Chipotle
Mexican Grill Inc 24,825,897 80,000 310.32
MMM 3M Co 16,411,467 172,750 95.00
QCOM Qualcomm
Inc 14,730,739 256,500 57.43
NVDA NVIDIA
Corp 10,450,998 668,248 15.64
DRI Darden Restaurants Inc 8,334,660 156,863 53.13
BBBY Bed Bath
& Beyond Inc 7,106,343 120,000 59.22
NKE NIKE
Inc 6,673,545 74,000 90.18
DFS Discover
Financial Services 6,024,306 225,526 26.71
BMC BMC
Software Inc
5,680,784 101,860 55.77
PLL Pall
Corp 5,174,873 90,186 57.38
NTAP NetApp
Inc 5,023,775 92,721
54.18
FII Federated
Investors Inc 4,999,331 208,797 23.94
GILD Gilead
Sciences Inc 4,819,341 115,320 41.79
JBL Jabil
Circuit Inc 4,673,442 232,900 20.07
MKC.V McCormick
& Co Inc/MD 4,361,801 87,826 49.66
JWN Nordstrom
Inc 3,947,555 78,612 50.22
BCR CR Bard
Inc 3,335,143 30,000 111.17
ORCL Oracle
Corp 3,210,675 97,500 32.93
AMT American
Tower Corp 3,197,346 60,000 53.29
EW Edwards
Lifesciences Corp 3,095,043 35,000 88.43
VAR Varian
Medical Systems Inc 2,890,088 40,950 70.58
YHOO Yahoo!
Inc 2,610,354 166,500 15.68
A Agilent
Technologies Inc 2,570,487 49,884 51.53
WPO Washington
Post Co/The 2,422,172 5,732 422.57
HCP HCP
Inc 2,210,840 58,180 38.00
SYK Stryker
Corp 2,155,856 36,000 59.88
NFLX Netflix
Inc 1,826,067 6,286 290.50
AN AutoNation
Inc 1,804,461 46,472 38.83
MKC McCormick
& Co Inc/MD 1,763,082 35,517 49.64
BLL Ball
Corp 1,692,684 43,000 39.36
PCS MetroPCS
Communications Inc 1,682,553 94,905 17.73
BIG Big Lots Inc 1,491,639 44,000 33.90
DGX Quest
Diagnostics Inc/DE 1,456,703 24,705 58.96
CAH Cardinal
Health Inc 1,430,042 30,826 46.39
SYMC Symantec
Corp 1,380,239 70,000 19.72
CTL
CenturyLink Inc
1,312,485 32,500 40.38
ICE
IntercontinentalExchange In
1,266,684 9,900 127.95
MAT Mattel
Inc 1,260,414 45,000
28.01
NEE NextEra
Energy Inc 1,158,240 20,000 57.91
HCN Health
Care REIT Inc 1,153,494 22,056 52.30
DELL Dell
Inc 1,020,036 60,000 17.00
YUM Yum!
Brands Inc 995,798 17,700 56.26
APA Apache
Corp 963,997 7,850 122.80
AAPL Apple
Inc 853,685 2,500 341.47
FDX FedEx
Corp 850,327 8,821 96.40
DIS Walt
Disney Co/The 798,500 20,000 39.92
TIF Tiffany
& Co
773,430 9,750 79.33
MWV
MeadWestvaco Corp 772,718 22,727 34.00
ADSK Autodesk
Inc 741,563 18,750 39.55
RRC Range
Resources Corp 710,845 12,579 56.51
KR Kroger
Co/The 577,355 23,222 24.86
TWC Time
Warner Cable Inc 570,000 7,125 80.00
F Ford Motor
Co 532,760 38,000 14.02
HRL Hormel
Foods Corp 529,236 17,600 30.07
AES AES Corp/The 504,400 38,800 13.00
FLIR FLIR
Systems Inc 501,600 15,000 33.44
M Macy's
Inc 435,764 14,500 30.05
CBS CBS
Corp 430,913 15,173 28.40
TYC Tyco
International Ltd 273,938 5,540 49.45
TLAB Tellabs
Inc 267,847 57,853 4.63
JDSU JDS
Uniphase Corp
265,064 16,000 16.57
AZO AutoZone Inc 216,477 725 298.59
NWSA News
Corp 210,977 11,682 18.06
PFG Principal
Financial Group I 197,317 6,586 29.96
DVA DaVita
Inc 188,037 2,152 87.38
LLY Eli Lilly
& Co 186,000 5,000 37.20
ADI Analog
Devices Inc 180,623 4,545 39.74
MET MetLife
Inc 174,480 4,000
43.62
KMX CarMax
Inc 159,427 4,759 33.50
BTU Peabody
Energy Corp 140,515 2,313 60.75
NDAQ NASDAQ OMX
Group Inc/The 126,200 5,000 25.24
RTN Raytheon
Co 100,000 2,000 50.00
CL
Colgate-Palmolive Co
88,620 1,000 88.62
CRM
Salesforce.com Inc
78,645 500 157.29
CME CME Group
Inc 76,425 267 286.24
HAR Harman
International Indust 74,965 1,608 46.62
IGT
International Game Technolo
65,619 3,700 17.73
DTE DTE Energy
Co 64,715 1,272 50.88
DV DeVry
Inc 62,000 1,000 62.00
PAYX Paychex
Inc 18,978 600 31.63
KLAC KLA-Tencor
Corp 17,568 426 41.24
PNC PNC Financial
Services Grou 14,306 240 59.61
AMD Advanced
Micro Devices Inc 6,990 1,000 6.99
PRU Prudential
Financial Inc 3,370 53 63.59
Well. that ought to shut him up, too! I like the post because I'm already short the DJIA from 12,700; but of course, I might not like it so much next week !
Did Project Mayhem get corporate sponsorship after Tyler was escorted from the building? Or does ZH pay for your Bloomberg subscription?
Don't let these people draw you in Tyler, you'll weaken your own voice. Remain clear and don't dabble in the minueta of every posters opinion. The basic idea of the article is clear. However you seem to have been paying more heed to the fact that many here may perhaps risk money and lose it due to failure to understand your advice. You have never bent to simplify your articles or site, and that is ultimately why your service stands out. It is a struggle to learn and I for one can say I did in fact lose money not entirely understanding what I was doing, but I would not even have tried without access to a source of information with the quality level of ZH without having the income to afford expensive info sources. Thank you for all you have done. ZH speaking the truth is what gave me the will to take on these markets, and gave me the commitment to learn to trade. I don't know if I will get good at it this year or 5 years from now, but I will eventually money will not be a problem for me, and I think I can thank you for that. Truth in finance is something only found in crisis it seems, and ZH I think will be unique to this time.
Thanks TD.
And to those of you who read my critique as me being a perma-bull. What? I made my point that TD was unspecific in his source, and I did it in a smart-ass fashion.
Then TD tells me more info than in his original post, and does so in a smart-ass fashion. Case closed. If he'd included that info in his OP, I wouldn't have made such an AH out of myself ASAP.
cut him some slack Ty... :-)
'Geoff(ry)' here, is just the UK version of the 'Toys-R-Us' giraffe... He's trying to appeal to the kiddies in advance of the IPO...
you perma bull people.. who get up and read that power of positive speaking book every morning while jerking off.. are going to lose a lot of money in the next 2 weeks.
Quote me!
anyone that has a penny in the market, right now.. is fucking beyond stupid, think crash test dummy.. and please lets not forget! Oil is the only FED approved short!
I'm glad that i'm out of debt, have some PM's and out of the stock market.It isn't enough.
The HFT and other fractal algos make the market very chaotic. If some genius has the mathmatics to harness zero point energy, they could harness semi-random, human greed induced price noise signal. Need some killer parallel computer app, oh well.
I have been waiting for this whole fiat market to implode.
I hate not having employment. It doesn't look like that is going to improve anytime soon. The f*#$ elite, I have had WAY MORE THAN ENOUGH of these fallen people. I can at least enjoy a nice day or enjoy the beautie of a butterfly in the garden.
insider sell-buy ratio every trader should acknowledge that. since a sideways market for last 6mths. with thin marked up distribution trades and multiple selling to every buyer is so bearish. The correction that is occurring now, should last for a little longer. Market was too thin and sellers were getting out for months.
keep up the good work ZH