With 209,000 jobs being added last month, July marked the sixth-straight month in which the U.S. economy added more than 200,000 jobs. Unemployment rose up to 6.2%, but that is due to the addition of more workers to the labor force—another positive sign.
Among the strongest hiring industries were construction and manufacturing, but insider buying is pushing a different industry to the top of the food chain, making this a great time to dive in and make profits…
This surging industry is technology, and heavy insider buying is one of the main reasons for its very recent rise. In fact, the performance of all stocks in the group has technology ranked second over three months.
Pharmaceutical, bioscience, and other technology companies are at the forefront of all insider buying. This includes Furiex Pharmaceuticals Inc (FURX), which had an insider buy of more than 11 million shares in July. That totaled over $1 billion in value!
And plenty of other tech companies followed FURX’s lead. Regeneron Pharmaceuticals Inc (REGN) insiders bought more than $400 million worth of shares in July. The COO and CFO of Bioshaft Water Technology Inc (BSHF) bought $20 million worth of stock in his own company. Roka Bioscience Inc (ROKA) had more than a dozen insider buys at $4.59 million each on July 22 alone!
These kinds of numbers cannot be ignored. They are telling us that technology companies are on the rise right now.
This shows us another valuable advantage of studying the insiders. Not only can we see what individual stocks to watch, but we can also learn which industries are the strongest at a given time.
Right now, technology is the industry to look into if you want to give yourself a better chance to make solid profits. If you would like to take advantage of the strength of the technology industry, our tech expert can pick out the best available tech stocks for you in his service, Tech Stock Jackpot.
Let the insiders continue to show us the path to profits.