Oil Plunges BUT insiders start buying in the US Oil crashed >4% overnight, to lows not seen since July 2009 and oil stocks fell in a manner described as a fire...
Oil Plunges BUT insiders start buying in the US Oil crashed >4% overnight, to lows not seen since July 2009 and oil stocks fell in a manner described as a fire sale. However, with valuations in US oil stocks at decade lows after over $300b has been wiped from their worth, we are now witnessing the biggest wave of insider buying since 2012. Directors buying is definitely not a guarantee of that prices will rise as we have witnessed locally with Twiggy Forest buying Fortescue all the way down to its 60% decline from this February's highs. Basically, insiders buying, tell me that the company is in great shape internally, but they have absolutely no control over where underlying commodity prices are going. Where to buy?...see below (VIEW LINK)
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