Oil and Steel Stocks Are Crushing the Market. Insiders Have Been Buying.
A rally in energy, on higher oil prices, and steel, due to anticipated infrastructure spending, has sent stocks in those sectors soaring.
Continental Resources (ticker: CLR), EOG Resources (EOG), and Cleveland-Cliffs (CLF) shares have respectively surged 182%, 80%, and 39% so far this year, far outstripping the 26% gain in the S&P 500 index. Executives and directors at those companies apparently expect more gains: They recently have been buying millions of dollars of stock.