Another name in the broadcasting and cable TV complex that insiders are warming up to here is Emmis Communications ( EMMS), which owns and operates radio and magazine entities in large and medium sized markets throughout the U.S. It also owns and operates national radio networks in Slovakia and Bulgaria. Insiders are buying this stock into some monster strength here, since shares are up over 200% so far in 2012. Emmis Communications has a market cap of $77.6 million and an enterprise value of $323.94 million. This stock trades at a cheap valuation, with a trailing price-to-earnings of 3.48. This is not a cash-rich company, since the total cash position on its balance sheet is $10.49 million and its total debt is $256.83 million. >>10 Top-Rated Tech Stocks That Pay Big Dividends The CEO and beneficial owner just bought 116,866 shares, or about $229,900 worth of stock, at $1.95 to $1.98 per share. Another beneficial owner also just bought 126,743 shares, or about $249,000 worth of stock, at $1.96 per share. From a technical perspective, EMMS is currently trading above both its 50-day and 200-day moving averages, which is bullish. This stock has been uptrending strong for the past six months, with shares soaring from a low of 67 cents per share to a recent high of $2.14 a share. During that uptrend, shares of EMMS have been consistently making higher lows and higher highs, which is bullish technical price action. That move is now pushing EMMS within range of near-term breakout trade. If you're in the bull camp on EMMS, then I would look for long-biased trades once this stock triggers a major breakout trade above some overhead resistance levels at $2.14 to $2.18 a share with high volume. Look for volume on that breakout that registers near or above its three-month average volume of 370,198 shares. If we get that action soon, then EMMS will have a great chance of re-testing and possibly taking out its 2010 high of $2.45 a share. One could look to buy EMMS off weakness since it's in such a strong uptrend. Any pullback towards $1.85 to $1.70 a share could be seen as a solid buying opportunity, and then I would simply use a stop just below its 50-day moving average of $1.65 a share. If that pullback doesn't come, then look to load EMMS off strength once it starts to clear those breakout levels with high volume.