Insiders No Longer Selling

After selling for weeks while investors were optimistic, insiders have turned bullish into the recent selling. I would somewhat discount this as many insiders are in a lockup period surrounding earnings. However, this is yet another piece of evidence that investor sentiment is back in neutral territory as insiders generally sell into optimism and buy into pessimism. I don't think we are seeing the extreme pessimism that is seen at good bottoms but I believe we are heading in the right direction. From Thomson Reuters via Barron's:

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