"<< The fact remains that while the man steadily maintained that there was no sell off, he was quietly selling his.>>
Sand Wedge,
You love doing this don't you? Did you talk to him lately? How did you know that it was his stance?
Frankly, I for one was pissed off with the selling when I learned about it last week. But, don't you think the smart money knew that already? It was posted on "Insider Sales" service since Friday. If this really matter a great deal, why not a big sell off on Monday or yesterday. During this information age anything that happen an hour ago while the market is open is considered old. How much more if it has been known for days.
Without knowing the reasons behind it, I'm not going to waste all of my energies on it. Though I wish we have the power to have prevented him from doing it. Unfortunately, we don't. Since he filed to sell 240,000 shares (form 144 on Dec 19), assuming that he badly needs the money, expect more shares to be sold soon. Again, not knowing the exact number of shares that he currently owns, 229,000 shares may be an insignificant portion of his holding. If it's just 10%-12% then I won't be as much worried as the others. Though if he continues to sell a lot more than will for sure make me very worried. We'll see.
Anyway, watching what these insiders do much more closely may be the best thing to do during this critical time after all.
regards,
sycamore
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