Last week’s spike in insider buying proved to be short-lived. For the week ending March 12th total insider buying fell back near its 2010 low at $15.65MM. Selling remained extremely high at $858MM. All in all the data continues to reflect the very low faith in the economic recovery by corporate insiders. The weak trends in capital expenditures and hiring are consistent with this lack of faith in the sustainability of the recovery.
There were no notable buys this week, however, the selling in the tech sector appears to be picking up. Not surprisingly, insiders are using the high beta rally to take some profits.