What I find interesting is amidst all the doom and gloom of high food and energy prices, bankruptcies, foreclosures, massive debt, etc., that the corporate insiders are still very heavy buyers of stocks right now which typically are bullish for stocks. (I subscribe to SentimenTrader.com.) -- I wonder if the corporate insider data is misleading because it is probably heavily weighting successful global fortune 500 companies (that do well during a domestic downturn).
Well, I guess if our country is heading toward a Great Depression type scenario, I would expect our corporate leaders to be wrong. I believe ALL income levels (high, middle-class, and low) must be wrong to create a Great Depression scenario. So far, the low incomes were wrong with subprime. The middle incomes are wrong with their big gas guzzlers, mansions in the suburbs, and real estate investments. Now it is the high income class that could be wrong with their huge stock positions and massive city building projects -- just look at all the cranes in the big cities. (The high income class has been wrong since Oct 2007 with their highest insider buying ever as the market is declining overall.)
Jan 4 - We have transitioned into a bear market. Completely different rules apply.
May 23 - IMO, any price at/above this close makes a great Nasdaq/SP500 short.
AI
