“The corporate insiders running our country’s publicly traded companies have been heavily selling their stock, which some market pros say speaks volumes about the veracity of the current rally.
The market has moved sharply higher since August 27, when Fed Chairman Ben Bernanke suggested that he and his allies on the FOMC might consider another bond purchase program in order to juice economic activity. The SPDR S&P 500 ETF (SPY), which includes holdings like Exxon (XOM), Apple (AAPL), Microsoft (MSFT), IBM (IBM), and Bank of America (BAC), is up 11% since Bernanke’s speech.
But, even as hedge funds and prop traders at the big commercial banks might be buying, one group of investors has carefully side-stepped this rally: corporate insiders…”
Cory’s Chart Corner
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