Say it ain't so, Mark Cuban.

Yesterday the Securities and Exchange Commission (SEC) charged the billionaire with insider trading. The regulatory agency claims that Cuban sold shares of mamma.com, a Canada-based Internet search company, with the advance knowledge of a yet-to-be-disclosed private equity offering of company shares.

Cuban allegedly sold his shares under the assumption that the private offering would greatly dilute his holdings. Selling as he did prevented the loss of some $750,000, the SEC claims in its charges.

He denies the charges and vows to fight.

Mamma.com changed its name to Copernic Inc. (NASDAQ: CNIC) in 2007. As a result of the highly publicized charges against Cuban, I expected to see trading volume in CNIC increase from its current average volume of 45,000 shares.

Sure enough, volume yesterday was at more than 350,000 shares. The lemmings are so predictable. They see something on the news and they place a trade.

No matter that the reasons for the company being in the news have little to do with the business, its current state or its future potential. The company is in the news because of insider trading, period.

Now, is that a reason for a stock to go up in value?

Armored vehicle maker Force Protection (NASDAQ: FRPT) has been slammed down to the single digits on fears that its sole product might be on the way out because of cuts in government spending. Who knows? The CEO says the company is doing fine, but the downtrending stock price is much more convincing. If the stock price is meant to make up lost ground, it should have no problem breaking out past $6, which it has not been able to do for the past few months. I'd avoid until the stock shows some strength.

Within the past few days, IDM Pharmacueticals (NASDAQ: IDMI) has had a huge run-up from under $1 to nearly $4 and a substantial drop to just under $2 -- all due to some positive drug news that was already known since November 2007, and of course the CEO's optimism about European approval. Do I believe the CEO? Yeah right! My distrust of CEOs is dwarfed only by my distrust of biotech CEOs! This company is not in the same league as other recently hot biotechs like Savient Pharmaceuticals (NASDAQ: SVNT) and Rigel Pharmaceuticals (NASDAQ: RIGL). Avoid, with a short bias on any spikes.

When I wrote this article about A-Power Generation Systems (NASDAQ: APWR), all the variables were aligned for a great run-up. I wanted to hold, but the volume and share price didn't live up to my expectations, so I sold quickly. Now, this company, potentially the new First Solar (NASDAQ: FSLR) of wind energy, has nearly retraced to its original breakout area around $15, so the risk has gone down ... but so has the reward. If you're a long-term investor, this is a solid choice, but I need it to break its previous highs at $19 to make me a buyer again. Avoid, with a long bias if it breaks out.