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To: Gator who wrote (714)10/14/1998 12:50:00 PM
From: Drake  Read Replies (1) of 8858
 
I know one of the answers thanks to Peder E. Angvall in Post #570
Ya'no...people who follow insider selling can be more along the lines of a cult at times. Gates and what's-his-name (his partner) just sold massive blocks of their shares. Was it a signal that Microsoft's share price was going to go down. No. Did it cause Microsoft's share price to go down. No.

Direct from the Yahoo description of a form 144:

Form 144 filings are indicated by ''Planned Sale''. Form 144s must be filed as notice of the proposed sale of restricted securities.
An insider may file a Form 144 and not actually complete the sale. If the sale was completed, the insider should have filed a Form 4, indicating the transaction was completed.

The Form 144 must be filed prior to, or on the approximate date, of sale. When searching for Form 144s, keep the following considerations in mind:

If the seller does not sell all the stock covered by the form within 90 days after the filing, the filing process must be repeated before the commencement of further sales, except in cases where the passage of time has extended the seller's holding period.
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With all that "the sky is falling..insiders are selling" crap back a while ago I said that I thought it could prove the opposite. Now I think I have been proven right. The "insiders" are still holding their shares because they KNOW that the SNMM WILL be going up.
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