For much of this year, corporate insiders have been buying dips in the stock market. The purchases have occurred in the face of growing recession risk and apparent challenging valuations.
Insiders have good reasons to be bullish. Valuations are reasonable and there are good pockets of value in the stock market, which are concentrated mainly in the large-cap NASDAQ 100.
From a technical perspective, the bull case for equities is institutions and hedge funds have all sold and the only sellers left are retail investors.
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