I have seen insiders buy when the SP is overvalued and sell when it is undervalued time and time again. There was allot of it (buying and selling) during the market bottom in 08/09. It makes you wonder why… sometimes they do it on purpose so that it doesn’t appear that they are trying to time their own company’s SP. Other times they just need the money.
When it comes to insider trades… it’s time to worry when there is a mass exodus from the majority of the board.