According to data from the Pragmatic Capitalist Blog, the insiders remain very skeptical of this rally and are selling into it:
"Insiders continue to display a remarkably low level of confidence in the stock market via the use of their own money. The latest data on insider buying and selling shows the continuing negative trends. For the week ending April 2nd, insiders sold $421MM while buying just $13.5MM. Both buying and selling were down substantially from last week, but the discrepancy between the two remains equally large."
Some of the stocks with most insider selling last week were, Anadarko Petroleum Corporation (Public, NYSE:APC) and Murphy Oil Corporation (Public, NYSE:MUR) on the energy sector, plus United Capital Corp. (Public, AMEX:AFP), Oracle Corporation (Public, NASDAQ:ORCL), FedEx Corporation (Public, NYSE:FDX) and Leucadia National Corp. (Public, NYSE:LUK).
You can check the full list of stocks here.
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