Taking Stock

Anyone who has listened to me with half an ear any time in recent years knows I'm skeptical to the point of cynicism about the stock market.

Let's just say, there is a time to buy, and a time to sell.

Smart money might get it right. Dumb money usually gets it wrong. The DJIA, as of this writing is down about 2% on the day, but that is beside the point. Insiders have sold into this recent rally. Think what you will about corporate executives. They are more likely than anyone else to be informed, and that's about as good as being smart. They haven't sold like this since 2007. Let's see -- what happenend then?

And, who do you suppose has been buying . . .