5 years ago
Thursday, November 11, 2010
Update
There' not a lot going on with 3C in the averages, pretty much confirmation with a little bit of a negative bias, there is however some negative divergences in the usual suspects, AMZN, NFLX and AAPL. This may be part of hedge fund dumping.
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Insider Selling Hits All Time Record Of $4.5 Billion In Prior Week As Everyone Is Getting Out Of Market
Submitted by Tyler Durden on 11/11/2010 09:31 -0500
Insider Selling Insider Trading Sentiment Trader
Insiders have officially marked the top of the stock market: last week's insider selling of all stocks (not just S&P) hit an all time record of $4.5 billion. This is the biggest weekly number ever recorded by tracking company InsiderScore.com: as Sentiment Trader highlights no other week before had more than $2 billion in net selling. Furthermore, selling in just S&P companies hit a whopping $2.8 billion: over 4 times more than the week prior! As such the ratio of insider selling to buying is now meaningless. Even Bloomberg, which traditionally just posts the data without providing commentary to it, highlighted this ridiculous outlier: "Insider selling at Standard & Poor’s 500 Index companies reached a record in the past week as executives took advantage of a two-year high in the stock-market to sell their shares." We hope those retail investors who dared to reemerge in the stock market and play some hot potatoes with the big boys, enjoy their brief profit as they once again end up being the biggest fools.
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