In recent weeks the news anchors have breathlessly talked
about the miracle economic "recovery" that has taken
place in recent months and attributed much of it to the
"success" of Bush administration tax cuts. While
consumers line up in stores for holiday shoppping thinking the economy has turned the
corner because of media reports, corporate executive insiders
have been dumping
stock in their own companies at a record pace with stock
sales by corporate insiders setting a new record in November. A
Reuters article indicates "3,680 executives from 1,592
companies engaged in share sales" setting a new 5 year
high. If the economy is indeed on the rise, stock prices would be
expected to much higher in the future and it would make no sense
to dump shares now if they would go to much higher levels in
2004.
Rob is the founder of the progressive news site robwire.com