Painchaud also mentioned Pulte Homes ( PHM) and Hovnanian Enterprises ( HOV) as two other homebuilding companies that have seen increased insider selling of late. Schwenger, at Thomson Financial, says there is a hodge-podge of sectors being represented in negative insider activity. International Game Technology ( IGT), the world's largest maker of slot machines, has seen increased action, with some 12% of shares held by insiders being sold in recent weeks. Schwenger also cited Yahoo! ( YHOO), Cendant ( CD) and Walgreen ( WAG), among others that saw insider sales. This scattered selling does not bode well for future confidence. "For the first time since last summer, we are bearish on the market overall," said Painchaud. Schwenger thinks sentiment is relatively neutral, but "the very light volume in insider trading has signaled executives are not confident a rebound will actually consolidate."