What Counts as Insider Trading?
I've been reading Avner Mandelman's The Sleuth Investor...FABULOUS BOOK...but I was wondering where the line is drawn on insider trading?
I'm going to give a few scenarios that I would theoretically trade on and I want you to tell me if they're insider trading
1)If i talk to a company's supplier and they tell me they aren't seeing as many orders from the company. I draw the conclusion that the company isn't seeing demand.
2) I talk to a company's supplier and they say they've decided to stop supplying the company's key product.
3) I talk to company personell and they tell me they're seeing increased demand.
4) I talk to a company's customers and they say they like the company's products more than competitor products.
5) I talk to company personell and they tell me they're going to get acquired for 2x the price.
6) I talk to company personell and they say they're in acquisition talks.
What's insider trading? Where is the line drawn between discussing the company/industry with insiders and trading on that information, and insider trading?