Thoughts
1 am: Corporate Insiders are dumping stocks. Here’s why you shouldn’t worry about this.
A recent Bloomberg article caught my eye:
In other words, corporate insiders (who are supposedly “smart money”) are dumping their stocks even as their companies conduct massive share buybacks.
Is this bearish for the stock market? No. I would ignore this. Corporate Insiders are not “smart money”. They’re good at running their companies, not trading their stocks.
In fact, corporate insiders have been “dumping” their stocks pretty much throughout the entire course of this bull market.
Corporate insiders are neither better nor worse than your average mom-and-pop as market timers.
1 am: Citigroup’s Panic/Euphoria Model continues to register “euphoria”. Watch out in 2019.
Citigroup publishes a Panic/Euphoria Model (sentiment indicator). It continues to register “euphoria” for the second month in a row.
