Insiders selling is always a concern, especially on a company so beaten down as Connacher, however, there can be many reasons for selling, most of which are of a personal financial nature.  I've read well over a hundred books on investing, don't remember that much, but one thing I do recall from one of those books was that insider buying is always significant but selling is far less so.  Assuming there is no bad news on this company other than what is already known and priced in, the eventual decision on the two foreign takeovers and the impact on oil prices should the mid-east problems threaten supply will dictate where this SP goes.  At least there's a chance the stock will rally.