6/22/09
DOW down a duce 200, SPX off 3% with XLE and XLF getting assraped today $SML (TNA TNZ ) off over 3%
Interested to see if we gap to 880 support and see how it holds.
Insiders Dump Shares at Fastest Pace in 2 Years - "Mish" Shedlock
Insiders Dump Shares at Fastest Pace in 2 Years
Bloomberg is reporting Insiders Exit Shares at the Fastest Pace in Two Years
Executives at U.S. companies are taking advantage of the biggest stock-market rally in 71 years to sell their shares at the fastest pace since credit markets started to seize up two years ago.
Insiders of Standard & Poor’s 500 Index companies were net sellers for 14 straight weeks as the gauge rose 36 percent, data compiled by InsiderScore.com show. Amgen Inc. Chairman and Chief Executive Officer Kevin Sharer and five other officials sold $8.2 million of stock. Christopher Donahue, the CEO of Federated Investors Inc., and his brother, Chief Financial Officer Thomas Donahue, offered the most in three years.
Sales by CEOs, directors and senior officers have accelerated to the highest level since June 2007, two months before credit markets froze, as the S&P 500 rebounded from its 12-year low in March. The increase is making investors more skittish because executives presumably have the best information about their companies’ prospects.
“If insiders are selling into the rally, that shows they don’t expect their business to be able to support current stock- price levels,” said Joseph Keating, the chief investment officer of Raleigh, North Carolina-based RBC Bank, the unit of Royal Bank of Canada that oversees $33 billion in client assets. “They’re taking advantage of this bounce and selling into it.”
If insiders don't believe this rally, why should you?
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Bloomberg is reporting Insiders Exit Shares at the Fastest Pace in Two Years
Executives at U.S. companies are taking advantage of the biggest stock-market rally in 71 years to sell their shares at the fastest pace since credit markets started to seize up two years ago.
Insiders of Standard & Poor’s 500 Index companies were net sellers for 14 straight weeks as the gauge rose 36 percent, data compiled by InsiderScore.com show. Amgen Inc. Chairman and Chief Executive Officer Kevin Sharer and five other officials sold $8.2 million of stock. Christopher Donahue, the CEO of Federated Investors Inc., and his brother, Chief Financial Officer Thomas Donahue, offered the most in three years.
Sales by CEOs, directors and senior officers have accelerated to the highest level since June 2007, two months before credit markets froze, as the S&P 500 rebounded from its 12-year low in March. The increase is making investors more skittish because executives presumably have the best information about their companies’ prospects.
“If insiders are selling into the rally, that shows they don’t expect their business to be able to support current stock- price levels,” said Joseph Keating, the chief investment officer of Raleigh, North Carolina-based RBC Bank, the unit of Royal Bank of Canada that oversees $33 billion in client assets. “They’re taking advantage of this bounce and selling into it.”
If insiders don't believe this rally, why should you?
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Rut row : Feds To Get Power To Target Websites Making “False Claims” New FTC guidelines would allow government to scrutinize content of websites, “
Feds To Get Power To Target Websites Making “False Claims”
New FTC guidelines would allow government to scrutinize content of websites, “patrol what bloggers say and do”
Political storm clouds on the horizon folks. Free Speach up for grabs...
New FTC guidelines would allow government to scrutinize content of websites, “patrol what bloggers say and do”
Political storm clouds on the horizon folks. Free Speach up for grabs...
SPX holding well above 880 support - bounce time?
Short term trend is now down on the daily...below the 40 EMA
6/19/09
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