Market Sentiment: Insider buying hits the $0 floor

While insider selling is generally not used as an indicator because it's fair enough to consider that senior members of a company diversify their risk buy often selling at scheduled dates shares of their company, insider buying, on the other hand, is often considered a good indicator, since the insiders are better positioned than most market participants to decide whether or not they want to speculate given the internal knowledge they have acquired. Please note that I believe insiders are not allowed to short sell the stock of the company they work for.

So here's an interesting piece of information published by ZeroHedge:

in the last week, there was no insider purchasing. This is the first time in years (and possibly for ever) in which we have seen a week during which there was not one purchase by an insider.

This adds to the long list of market extremes that we have been reaching since December 2010.