Insider Trading

The Inside System is Investtech's system for analysis of Insider Trading. The system gives you graphical overviews of the insiders' transactions in individual stocks, tables with details and rankings and lists based on the total of insider trading. This makes it easy for you to trade based on what the insiders do, or just check your own analysis with what the insiders seem to think about the stock.

The Inside System is available for Swedish and Norwegian stocks. Full access requires Investtech Professional subscription.

Insiders in publicly traded stocks generally have a good knowledge of what is happening within their company. They would not buy stocks if they were not positive about the company's fundamentals. Investtech therefore believes insider buying to be a good indication that the stock is fundamentally cheap. Together with our technical analyses, which describe the markets' psychology, this should provide a sound basis for successful investments.

The Insider System is based on reporting from the Oslo Stock Exchange and the Swedish finance authority (Finansinspektionen). All reported insider trades are regisered and categorised. The importance of the trades are computed mathematically based on the value of the trade and the change in the insider's exposure towards the stock. The sum of all insider trades in a stock is then used to calculate an Insider ranking for the stock. The idea is that the Insider Ranking can be used as a decision support tool for buy and sale of stocks. Insider trades are shown graphically together with the price development of the stock and the Insider Ranking is also used to sort the companies in buy- and sell portfolios.

Investtech recommends investors to make their own judgements based on the presented materials and also to take other information into consideration, for example Investtech's technical analyses or other fundamental evaluations. Investtech is however of the opinion that reported insider trades by themselves can give a better result than the market in general, and that it in combination with technical analysis can result in even higher returns.

Below follows a description of the parts that the Insider System is composed of, and an explanation of the different modules.

Insider Trading per company: -button

Below the main chart, insider trades are presented graphically in a diagram as shown below. Information about each of the trades that is marked in the diagram is presented in a table, see below.



Table:

Date	Type	Count	Price	Value	Percent	Holding	Text	Importance
14. mar 2000	kjøp	25000	221.81	5545	0	0	Edwin W. Stephan kjøper 25000	25
3. mar 2000	kjøp	2325	289.33	672	100	2325	Jack L. Williams kjøper 2325	100
9. feb 2000	salg	25000	384.00	9600	1	2303634	Richard Fain selger 25000	2
19. nov 1999	salg	10000	437.56	4375	11	75000	Edwin Stephan selger 10000	100
24. sep 1999	salg	800000	365.63	292504	1	46297430	A Wilhelmsen AS selger 800000	45
23. aug 1999	salg	79714	49.70	3961	3	2208262	Richard D. Fain selger 79714	56
9. aug 1999	salg	5500	350.00	1925	21	20000	Kasper K. Kielland selger 5500	100
29. jul 1999	salg	54000	373.00	20142	16	280000	Richard Glasier selger 54000	100
12. mar 1999	salg	33500	36.80	1232	99	239	Meldepl salg 33500	100

Exlanation of the fields in the table:

Field	Description
Date	Date the trade was reported.
Type	Type of transaction.
Number	Number of stocks.
Price	Price that the stocks were bought or sold.
Value	Value of the trade in kr 1000.
Percent	The trade's value in percent of the insider's holding
Holding	Total number of stocks after transaction.
Text	Text summarising the trade. Blue is used for buying, red for selling.
Importance	Importance of the trade, calculated from the amount of the trade and the percentual change in the exposure of the insider to the stock. The scale is from 0 (=unimportantg) to 100 (=important).

Lister og rangeringer: menyvalg 'Innside'

The following rankings are available:

1. Highest Insider Ranking: Stocks that many insiders have bought, ranked with the most positive stocks first. May be seen as a buy-portfolio.
2. Lowest Insider Ranking: Stocks that many insiders have sold.
3. Rising Insider Ranking: Stocks with the most and strongest insider buying in the past week.
4. Falling Insider Ranking: Stocks with the most and strongest insider selling in the past week.
5. The most recently reported buys.
6. The most recently reported sells.
7. The most recently reported trades. Reported buys and sell of the past week.