TPC has been keeping tabs on the insider buying and selling,(see for example,  here and here), noting that insider buying is more important information than insider selling.  Now, Mark Hulbert at Market Watch is highlighting the fact that corporate insiders are more bearish than at any time in nearly two years:

Corporate insiders are a company’s officers, directors and largest shareholders. They are required to report to the SEC whenever they buy or sell shares of their companies, and various research firms collect and analyze those transactions.

One is the Vickers Weekly Insider Report, published by Argus Research. In their latest issue, received Monday afternoon, Vickers reported that the ratio of insider selling to insider buying last week was 4.16-to-1, the highest the ratio has been since October 2007.

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I don’t need to remind you that the 2002-2007 bull market topped out that month.

The bottom line? Insiders are not always right. And even when they are right, they often are early.

Even so, it’s difficult to sugar-coat the recent increase in the pace of their selling…