Three Michael Page directors have sold 40% of their combined holding in the plc, raising £7.6m, reports Saturday’s FT.

I have a wee dabble in the Stock Market from time to time, mainly through a Fantasy portfolio, rather than the real thing. (A good thing too, otherwise I’d have lost my money on more than one occasion). Over the last twenty years I’ve learnt to limit my selection to businesses in sectors I know something about.

There are three recruitment businesses in my Fantasy portfolio. One of them is Michael Page International. The FT reported that September was Page’s best month of 2010 so far, and chief executive Steve Ingham was quoted as saying “There’s nothing to point to a double dip in our data, and no reason for anxiety or concern, though that could change.” But I see from Saturday’s FT that three Michael Page directors have sold 40% of their combined holding in the plc, raising £7.6m.

As someone on the management team of a recruitment business I know that our ability to forecast revenue stretches a mere six to eight weeks into the future. There could be many reasons why the Page directors chose to sell. But I wonder if they can look that bit further than I can…and see choppy waters ahead?