The negative trends in insider buying and selling continued this week as insiders sold a total of $896mm in stock and purchased just $6.3mm. Both were up from last week’s readings of $824MM in selling and the annual low in buying of $2.1MM. The 4 week trailing average of purchases remains near its recent lows.
As we’ve previously mentioned, this is a vote of no confidence in the sustainability of the long-term recovery as insiders simply refuse to use their own dollars to buy into this rally.
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