Where insiders are putting their own money
The most reliable single-source signal in equities: corporate officers and directors buying their own company's stock with after-tax cash. Pulled from SEC Form 4 filings every 30 minutes, filtered to material purchases, and ranked by cluster strength.
Why this is the cleanest signal in equities
Outside investors trade for hundreds of reasons — fund flows, factor rebalancing, taxes, panic. Insiders sell for many reasons but only buy for one: they think the stock is going up and want to risk personal capital to participate. Cohen, Malloy & Pomorski (2012) showed cluster-buy signals from corporate insiders earned ~3% annualized alpha after costs.
A cluster buy is when 3 or more different insiders (officers, directors, or 10%-owners) all purchase shares within 14 days. It rules out one-off "show buys" by a single CEO and surfaces situations where multiple people in the room have the same conviction at the same time.
Cluster buys this window
Multiple insiders, same company, last 14 days. Sorted by total dollar conviction.
Big-money single buys
Individual purchases of $1M or more. One person putting real personal money to work — a louder version of conviction than the cluster, even if just one signer.
Sector heat
Total value of insider purchases by industry over the rolling 30-day window. The bigger the bar, the more conviction insiders are showing for that corner of the market right now.