MKM's Genovese was indeed one of the bulls and an early one at that, he was right then.  So I believe his argument may have some validity and given market reaction, his opinion carries weight.  That said, this is after a 50% hair cut from highs.  

Given that the CEO's open market purchase was substantial, it begs the following question: could he be wrong or is it because he can afford to wait?  Right this moment, I tend to think the latter is the likely answer.

All that said, I think waiting for the CC is the safer course