Yup......this house of cards is about to tumble
How long have you been short this market?
I’m glad Obummer and Congress passed all those sweeping Wall St. regulations! s/
Errr, like uhhh, do you think the end of the ‘Bush’ tax cuts has anything to do with why these folks want to see the gains in 2010?
But keep it up, this wall of worry is giving me a shot at retirement!
Errr, like uhhh, do you think the end of the ‘Bush’ tax cuts has anything to do with why these folks want to see the gains in 2010?
But keep it up, this wall of worry is giving me a shot at retirement!
But Cramer said “buy!”?
Could be the taxes they pay now on capital gains will be less than after the new Jan 1 tax increases.
bookmark
Tyler Durden had it nailed on Oct 5 with this entry:
http://www.zerohedge.com/node?page=33
It is approximately on page thiry four in the archives at the bottom.
Insider Selling To Buying: 2,341 To 1
Submitted by Tyler Durden on 10/05/2010 13:46 -0500
Sorry kids, we just report the news... as ugly as they may be. After last week saw an insider selling to buying ratio of 1,411 to 1, this week the ratio has nearly doubled, hitting a ridiculous 2,341 to 1. And while Wall Street’s liars and CNBC’s clowns will have you throw all your money into “leading” techs like Oracle and Google, insiders in these names sold a combined $200 million in stock in the last week alone (following Oracle insider sales of $223 million in the prior week). Insiders can. not. wait. to. get. out. fast. enough. This Fed-induced rally is nothing short of a godsend for each and every corporate executive. But yes, there may be value: there was insider buying in 2 (two) companies last week: General Dynamics and Best Buy, for a whopping total of $177,064. At the same time sales were a total of $414 million: so is anyone wondering why JPMorgan is reopening its gold vault... Anyone left holding the bag on this market when the FRBNY props are taken away, will be left with the same return as all those investors who entrusted their money with Madoff. Guaranteed.
Let’s see ... cash in now before the “Bush” tax cuts expire or wait and pay more?
If the Bush tax cuts are allowed to expire, then I consider it a prudent move to lock in profits and take cap gains this year. Insiders or not. I’ve sold plenty this year. Next year will be a dead zone if those increases go into effect.
I think there is a general pessimistic feeling from businessmen, but don’t forget something very important:
Capital gains taxes are going up considerably in 2011. Time is short to save a bundle on their tax bill. No doubt it is a contributing factor.
Capital gains tax goes up next year. Insiders are taking their profits now.
Or at least that’s how I see it.
What’s surprising to me is that market still keeps going up. I don’t understand that at all.