This is really a very short article, and I should say at the outset that I'm short the stock. Now, having admitted that, let me tell you why. This afternoon around 14:30, Michael Balmuth, the CEO of Ross Stores, sold approximately 100,000 shares - or roughly one fifth - of his holdings. The filings can be seen on the SEC site: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001238922 His holdings over the past 7-8 months can be viewed here: http://stocks.us.reuters.com/stocks/insiderDetails.asp?name=BALMUTH MICHAEL H I haven't had time to do all the math on this, but the situation seems to be this: 1) The sale is not the result of option exercise. More accurately, the shares sold were acquired through option exercise in March. 2) The sale is part of a 10b5 Plan, but no date is given for the plan in the filings. Make of that what you will. 3) He was long 300,000 shares until 03/22, when he exercised roughly 250,000 options (or 2500 if you like) resulting in a total position of 550K. On Oct. 15, he sold a quarter of that. A sale this large has to have a reason behind it in my opinion. It would be nice if someone could figure out the event that triggered this, but I haven't had any success. At some point it would be interesting to look into the exact nature of these plans. Basically the SEC will allow anything that can be interpreted as a Turing machine (a computer). That's to say basically anything is allowed. So I don't attach to much weight to the "hands off" part of the sale. So these are my reasons for shorting. I think they're good - but you have to make the call.