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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Olaf Koch who started this subject1/27/2001 11:19:19 AM
From: isopatch  Read Replies (3) of 95453
 
More evidence that insider selling anticipates important tops:

In our recent discussion here about 2 weeks ago, Big Bull and I seemed in to be the only 2 strong advocates that important changes in the pattern of open market insider selling can be a very important signal of approaching intermediate and long term tops.

As a follow up to support our contentions here I'd like to offer an excerp from from Kevin Schwenger's 1/23/01 article written for Insiderscores:

"Sentiment aside, corporate insiders tended to lead the market with their trades in 2000. They were most notably prescient with the timing of their distributions, as significant market corrections followed their record levels of sales in both February and August. For example, the Nasdaq fell approximately 40 percent between early-March (when it hit its all-time high of 5,100 subsequent to the February selling) and late-May. Following the Nasdaq''s rebound back to the 4,200-level in mid-August, when the next-highest level of distributions took place, the index fell nearly 50 percent to its 52-week low at year-end."

As pointed out in our previous posts, there have been literally DOZENS of studies over the past 25 years that have evidenced similar predictive value of large increases in insider sales.

While everyone has a right to their opinion, it also seems to me there should be a point where we can separate opinion from fact.

Isopatch
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