One stock that insiders are doing some notable buying in is CTCM Media ( CTCM), which operates three Russian television networks. The company also operates Channel 31, a television network in Kazakhstan, and a television channel in Moldova, each offering entertainment programming. It looks like insiders are finding some deep value here since this stock has been destroyed, dropping over 60% so far in 2011. CTCM Media has a market cap of $1.45 billion and an enterprise value of $1.32 billion. This stock trades at an outrageously cheap valuation; its trailing price-to-earnings is 9.55, and its forward price-to-earnings is just 7.69. CTCM Media's estimated growth rate for this year is 16.1%, and for next year it's pegged at 11.1%. This is a cash-rich company, since the total cash position on its balance sheet is $132.16 million and its total debt is zero. This stock also has a hefty dividend yield of 13.7%. One of the highest-yielding media stocks, it shows up on a recent list of 10 Dividend Stocks to Keep You Safe Into 2012. A director just bought 163,808 shares, or about $1.6 million worth of stock, at $9.73 to $9.90 per share. This same director also bought close to $3 million in stock back in early June at $19.82 to $19.86 per share. From a technical standpoint, this stock is currently trading below both its 50-day and 200-day moving averages, which is bearish. This stock has been downtrending hard for the last couple of months, since shares have dropped from its August high of $21.51 to a recent low of $8.04 a share. During that downtrend, the stock has been consistently making lower lows and lower highs. Every time CTCM has traded up towards its 50-day moving average, it has also failed and dropped lower. If you're bullish on this stock, I would look at two levels for potential long entries. The first would be to potentially buy the stock if it re-tests that $8.04 October low. If the stock trades back down to that level, and then holds, it could be a good place to be a buyer. The second potential entry is to buy some shares CTCM once it finally breaks back above its 50-day moving average of $10.67 with high-volume. Look for volume that's tracking in close to or above its three-month average action of 618,908 shares. I would use a tight mental stop that's a few percentage points below your entry on either strategy.