An avalanche of insider stock selling!
NEW YORK - August 13, 2009 - Over the last two weeks corporate insiders have dumped over $2.1 billion in stock as opposed to $73.1 million in buys. I'm not sure I've ever seen the ratio of insider sells vs. buys this skewed toward officers and directors looking for the exit door. Talk about the captain jumping into the lifeboat and speeding away before the ship sinks.
Think about that when you call up your financial advisor or broker and tell him you want to get out of the stock market.