I tend to agree that insider selling isn't necessarily a meaningful indicator. When I looked at the Edgar-Online site, it only lists that 144's were filed (2 on the 16th and 1 on the 10th) - it doesn't say if it's a buy or sell. So far, I'm not willing to pay $2/each to see what/who the 144's were.
If they were insider purchases of open market shares, I'd be interested. If, as rumor has it, the big sell order (50,000 shares) is from the former CFO, it probably is no big deal. What most people forget, is that filing a 144 shows an intent to buy/sell, not necessarily an action. By the time the filing is made, in many cases over a month has passed, and we still don't know if an actual trade took place.
A pattern is what we are looking for, and even if the recent filings are sells, there really is no pattern. |
