Summary
Last week, we noted that insider-sentiment data from Vickers Stock Research was ‘as neutral as neutral can be.’ Little has changed this week, although a single indicator from Vickers has moved closer to bearish. Here are the numbers. In the ‘little has changed’ category, the Eight-Week Sell/Buy Ratio for the NYSE is 3.45 on a scale where any reading between 2.00 and 6.00 is neutral. Last week, this ratio was 3.40 — so not much movement. For the Nasdaq, the ratio this week is 4.08 versus 4.06 last week. Again, little movement. And wrapping it all up, the Total Eight-Week Sell/Buy Ratio is now 3.78 versus 3.74 last week. That shows little change again, and is an overall sign that corporate insiders are not eager to buy shares right now. The one reading we will highlight is the Nasdaq One-Week Sell/Buy Ratio, which at 5.41 this week is closing in on the 6.00 reading that starts the bullish zone. From a sector perspective, four of the 11 S&P 500 sectors had bullish sell/buy ratios (under 2.00) for the past week, while none were bearish. Among the bullish sectors, Energy led the charge, with a ratio of 0.3, indicating that there was more buying activity among insiders than
