I don't think I have any other stocks in my portfolio where the management doesn't hold a load of shares and regularly buy more on the open market. If I was a manager in a company, and I had a few hundred thousand shares, and I felt we had a good future, with prospects for share appreciation in a few years, I'd hold on to them! I'd dump my cable TV and bring bagged lunches and take the TTC to work. When the market sees insider selling, they seem to react negatively.