By Daily Crux Editor Brian Hunt:
Does the great 2009 stock rally have long legs? Not according to corporate insiders.
Insiders at America's publicly traded companies are selling stock at the fastest pace since October 2007 - the month the stock market peaked. As Bloomberg reports:
"That's a warning sign because insiders usually have more information about their companies' prospects than anyone else," according to William Stone at PNC Financial Services Group Inc.
"They should know more than outsiders would, so you could take it as a signal that there is something wrong if they're selling," said Stone, chief investment strategist at PNC's wealth management unit, which oversees $110 billion in Philadelphia.
Read full article...
Looking to bet on a market fall? Start here:
These stocks are a slam-dunk short sale
The closest thing to REAL free money you'll see this year
Stansberry: Stock rally "included a bunch of garbage"