CEO and CFO of Yell (YELL) yesterday bought over £1m of shares between them. Non exec Bunting also picked up about £620k’s worth at the same level (415-416p).

Apart from the fact that this is serious $$ to invest, another reason for picking up on this signal is the fact that Condron and Davis sold stock (around £7m between them) back in December 2006 at around 570p. This was followed by a profit warning in April which precipitated a 17% fall in the share price as a result of analysts downgrading US growth forecasts.

Maybe there is now good news in the pipeline. Look for positive comments on over the next three months.