Summary
As we end 2024, the stock market is acting in a manner that nicely reflects the sentiment displayed by insiders over the past month. No one has fully run for the exits, but volatility is high and investors have been exceedingly quick to react to news flow as they look to protect gains in what has been a solid year for equities. Insider sentiment, as expressed in the weekly data from Vickers Stock Research, reflects a group of shareholders who remain on the sidelines – with no apparent desire to acquire shares but no panicked inclination to dump stock. The major one-week sell/buy ratios from Vickers all remain in the neutral zone between 2.00 and 6.00, but a slight divergence has appeared this week, with sentiment on the Nasdaq worsening while sentiment on the NYSE is improving. With the Nasdaq leading the charge higher this year (up about 30%), we’ll allow for a little profit taking in the index. On a sector basis, insider buying was the greatest in the Consumer Discretionary sector over the last week, with shares valued at $187 million bought versus $46 million sold. Buying activity also outpaced sellin
