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The trend in insider trading remains largely the same as it was in 2009. Although the holiday week was shortened, insiders still found time to unload millions of shares in their own companies. In the last week of the year insiders sold over $222MM worth of stock while purchasing just $18.5MM worth of stock.
CSE of the Colombo Stock Exchange yielded a 125% increase in 2009. Sri Lanka bested the return of the Shanghai-based SSE Composite Index, the proxy for the largest publicly traded companies in China.
According to the latest readings from Investors Intelligence and AAII show that newsletters and small investors are very bullish in the near-term. This could be a major warning flag about the potential short-term performance of the equity markets.
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