Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Bolder who wrote (26507)	7/25/1998 2:49:00 PM
From: SliderOnTheBlack	Read Replies (4) \| Respond to of 95453

Bolder; FGII's insider sales... While I entirely agree that ''normally'' when an insider sells a small percentage of their holdings it is not normally an issue. But the exception has to be made when the insider held all most 9 million shares of the 24.5 million shares or 36%. The float is only 8.6 million shares; so when Holloway sells 2.8 million shares which is equal to 30% + of the entire float in the last year; including 800,000 shares (10% of the float) for over $30 Million in the month of April alone, that is an alarm going off ! Holloway couldn't sell more than that - the stock would have tanked ! - who knows he still may be selling right now ? -- we should have taken this as a signal of his confidence not in the longterm health of FGII as a company, but as a reflection of how he thought ''his'' STOCK would perform going forward. Additional analysis is needed here as my primary point is that, there was no insider buying on the dips ! Also, VP Alford sold 2/3 of his stock recently, Insider Crawford 1/3 and Insider Love 1/2 ...hardly bullish, by ANY stretch of the imagination. Add on the shear $ amount of Holloway's sales and the point is obvious ! ***see HLX/Halter Marine for a positive example of insider buying and it's effect on shareholder and market sentiment. Halter is a fab co similar to FGII and is up 5% in my portfolio since my buy after the March sell off; very few companies in the driller and service sector are anywhere near that ! Most are down 30-50% since the bounce in late March to April. I'm not signaling out FGII, as a prime example of insider selling - there are much worse examples and their stock tanked in proportion to this selling... Anyone catch that company (that was technically an insider I believe) whose block sale caused EVI's stock to be halted a month ago or so ? - pretty good timing in retrospect - the 25% + blow off soon followed. My point is when you see multiple executives, especially VP's or CFO's selling either a big percentage of their holdings or a $million Dollar block - regardless of their % holdings - pay attention ! Insider buying going forward will also be a signal to start buying ! ...ny point is only that the discussion on Insider Sales or Buys has not been covered much here on this thread. Perhaps we should use this as a more primary barometer of this sector's health ?