Posted on 10/06/2010 3:51:28 PM PDT by FromLori
Sorry kids, we just report the news... as ugly as they may be. After last week saw an insider selling to buying ratio of 1,411 to 1, this week the ratio has nearly doubled, hitting a ridiculous 2,341 to 1. And while Wall Street's liars and CNBC's clowns will have you throw all your money into "leading" techs like Oracle and Google, insiders in these names sold a combined $200 million in stock in the last week alone (following Oracle insider sales of $223 million in the prior week). Insiders can. not. wait. to. get. out. fast. enough. This Fed-induced rally is nothing short of a godsend for each and every corporate executive. But yes, there may be value: there was insider buying in 2 (two) companies last week: General Dynamics and Best Buy, for a whopping total of $177,064. At the same time sales were a total of $414 million: so is anyone wondering why JPMorgan is reopening its gold vault... Anyone left holding the bag on this market when the FRBNY props are taken away, will be left with the same return as all those investors who entrusted their money with Madoff. Guaranteed.
Just wow!
Is some of this due to the well-heeled taking profits before their taxes go up?
I am a little surprised at the Philip Morris selling - it is still paying 4.6% at 55. What are you going to do with the money?
Maybe they will buy it back in the high 40s, but there is no guarantee it will go down in a down market.
Noooooooo problem if we tax the rich. Nope. Tax law won’t effect their behavior. It was only a question of when once it became clear that the Bush tax cuts would be allowed to expire. Once one sold, they all must to catch the price before it falls too far. Now where will all that capital go?
Makes me wonder what they know about at net neutrality laws congress may be thinking of passing . Any kind of tax on how many web pages you access would finish them too... something is up.
After last week saw an insider selling to buying ratio of 1,411 to 1, this week the ratio has nearly doubled,...
Can you say crash??? I knew you could.
There are rumors that the rich are buying gold by the ton.
The wealthy are hedging their bets. I would like to see what the ratio is of holdings they have to sales and what prices the option are at before condemming the whole lot. Gold seems to be the asset to which $$ are flowing.
C-level executives get a lot, if not most, of their compensation in the form of stocks. They regularly sell thousands of shares per quarter.
You can follow insider trading on any number of web sites, including http://moneycentral.msn.com/investor/invsub/insider/trans.asp
Gold has no value in an economy that has finally lost its value, though.
Better to stock up on canned goods, firearms, ammunition, bows and arrows, knives, gasoline, and clean water, if things really do crash.
No argument from me on that.
I do both. Gold would retain value if there is a recovery after the implosion. No telling how bad or how fast it will be.
while Wall Street's liars and CNBC's clowns will have you throw all your money into "leading" techs like Oracle and Google, insiders in these names sold a combined $200 million in stock in the last week alone
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.