Insiders Selling in US stocks

Entering 3rd week of September, I am getting very cautious on the stock market and also waiting eagerly of the market correction. I plan to off load my penny stocks this coming week as things do not really look good and I just don't feel comfortable holding the stocks now.

I read two consecutive reports regarding the insiders selling these few days. The reports mentioned that there are many Corporate officers and directors in US have been selling the shares at great pace since August. They are the one who know the company inside out and they know what is the fair value of their company. In the principle of "Buy Low Sell High", this selling of stocks by insiders is a very clear signal that the stock price is over value and the future earnings do not justify the current stock price. This is the leading indicator that stock market is going for a correction very soon. I will believe this indicator more than other analyst reports and preserve my cash first!