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The Canadian insider blog discusses news and insight found among insider and significant shareholder filings in Canada.
 
Ted Dixon is co-founder and CEO of INK Research. He is the creator of the INK Canadian Insider Index, and is the editor of the daily Morning INK and weekly Market INK reports. He is a regular contributor to the Globe and Mail's Globe Investor pages and has also worked as a part-time lecturer in corporate finance at the British Columbia Institute of Technology. Before starting INK, he worked at the Connor, Clark & Lunn Financial Group where his responsibilities included portfolio strategy and product development. He has also been an analyst at the Fraser Institute and a treasury specialist at the TD Bank. He is a Chartered Financial Analyst and member of CFA Vancouver. He holds an MBA in Financial Management from the University of Chicago, and a Bachelor of Commerce from UBC. Listen to his weekly economic commentary on Vancouver's Roundhouse Radio FM 98.3.
 
Victor Wong is a business and client development associate at Canadian Insider and an avid market watcher.
 
Nicholas Winton contributes technical commentaries on the INK Canadian Insider Index. Nicholas also writes the High on the Hog blog.

 

 

Bears in view

We have been bogged down a bit this week at INK with administration combined with staff holidays. As a result, we have not been posting as much as we would like. But, I want to keep the ball rolling. Below is an excerpt from our US market insider sentiment commentary we provided to INK subscribers Wednesday. It is turning out to be timely. 

Insights: From Fed patience to action

In this week's edition of Canadian Insider Insights, we make the bearish case for stocks this summer based on insider sentiment. Meanwhile, get the take on the markets from a former Trump insider in our broadcast of the week. Finally, we highlight recent CEO buying in the oil patch. You can read our weekly newsletter here without registration.

Regulators re-examine ASDP insider filing exemptions

Following inquiries from INK Research and information that we have provided in relation to the creation of our No-Go list which we announced last week, Canadian securities regulators have told us in an email (which we just came across this weekend) that they are reviewing the granting of insider filing exemptions for Automatic Securities Disposition Plans (ASDPs).

INK Canadian Insider Index hits oil slick, skids 2.3%

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. Last week, the idea of the 1100 level providing support after holding firm on the last 4 re-tests quickly went out the window. As oil plunged 6.8%, the Index slipped on an oil slick of its own and its skid accelerated as the week progressed. In all, the INK CIN wiped out to the tune of 25.8 points or 2.3%.

As a recession signal heats up, cryptos are beating gold as a safe haven

In my May 23rd interview with Jim Goddard I tackle some key themes that we have been developing over the past week. I start off the broadcast highlighting the warning sign being sent by the losing streak of the mid-cap-oriented INK Canadian Insider Index versus the large-cap S&P/TSX 60 Index. As we display in the chart below, the INK CIN has not underperformed the 60 this long since the lead up to the great financial crisis.

James Bay reality and potential rare earths mania

In his May 22nd broadcast, John Kaiser updates Midland Exploration's (MD) Mythril project which has implications for nearby area plays hosted by Azimut Exploration (AZM), 92 Resources (NTY) and Quebec Precious Metal (CJC). Midland released initial drilling results from 10 holes on May 16th.

Image By nattAng source Wikipedia

In the third and final segment of the show, Mr. Kaiser assesses the implications for rare earths if China makes a move for Taiwan to secure semi-conductor supply.

Shorts stick with their favourites

With most Q1 earnings reports out of the way, short sellers are sticking with their favourite targets. Bonterra Energy (BNE) is the only new name on our ten most shorted stock list (as a % of float), replacing Laurentian Bank (LB) which is now the 11th most shorted stock. The top two spots continue to be held by Paramount Resources (POU) and High Liner Foods (HLF).

Insights: On the edge of boom and bust

In this week's Insights newsletter, we quickly review whether our insider signals are suggesting boom or bust ahead. Our insider of the week is the CEO of an industrial company that inspired us to launch the INK No-Go stock list.

Click here to read this week's edition and registration is not required.

Introducing the INK No Go List

Introducing the INK No Go List

At INK Research, our mission is to help you make better investment decisions by tracking the legally reported buying and selling of public company executives, a group also known as corporate insiders. To help point investors in the right direction with their investments, we combine insider activity with valuations and momentum factors to identify which stocks might make the best investment destinations. 

The foundation of our process looks at insider commitment. We rank every stock on a standard INK measure of insider commitment which takes into account the number of common shares company officers and directors hold on a beneficial basis as reported via SEDI or the SEC along with recent buying or selling of company shares. It is a pretty straight forward concept. The more stock that key insiders own and are buying, the greater the insider commitment towards the firm.

You can find our insider commitment rankings in the INK Edge outlook summary for a stock on the INK and Canadian Insider websites.

As critical as holdings and buying are in assessing insider commitment, there is at least one more important consideration, and that is commitment to disclosure. In INK's view, insiders who seek to legally delay or intentionally fail to disclose significant transactions within normal filing requirements are seeking to gain an advantage which can tilt the playing field in favour of the insiders. INK believes strongly in pro-market principles, and that means a level playing field for all investors.

INK Canadian Insider Index Notches 5 Point Gain, as US Markets Dip

Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index.The INK Canadian Insider Index started the week with a successful test of 1100 before bounding as high as 1121.71 intraday. The Index finished the week at 1114.99 for a gain of 5.15 points.  

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