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Technology Stocks : Ascend Communications (ASND)
ASND 208.59+4.1%Dec 4 3:59 PM EST
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To: pass pass who wrote (20399)11/1/1997 4:06:00 PM
From: Matthew B.  Read Replies (2) of 61433
 
I don't think insider selling has much correlation to stock performance.

I did some back testing (back till April) with a value based indicator. I checked both insider buying and selling. I found so many insider sales on both companies which did well well and badly (even though the average 30 day gain of the test set was 19%) I gave this up as insignificant. On the buying side I split the groups into purchases within the last 0-3, 4-6, 7-9, and 10-12 months, and those with no buys within this period. The best performing were the 10-12 and no buys. In most cases the price at the indicator signal was below that of the insiders purchases. I can therefore conclude either that insiders in general don't know how to buy for the short term or that there is no significance.

Matthew
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