While panicked investors have recently fled markets in a scale not seen since the last financial crisis, corporate insiders are aggressively buying.

"Insider buying has accelerated dramatically to its highest level since the market bottom of March 2009,” according to Ben Silverman, Director of Research at InsiderScore, a firm that tracks buying and selling activity for corporate insiders.

According to Silverman, insiders have purchased over $400 million in company shares since July 1, with most of that activity occurring in the last 2 weeks when markets began to nosedive (the S&P fell over 15 percent during that time).

And that begs the question should you follow CEOs into their own stocks.

According to Lon Juricic president of StreetInsider.com the short answer is yes. He says as long as you can hold for a while, history suggests it pays to establish new long positions in tandem with insider purchases.

”Back in November 2008 we saw similar action, CEOs were buying like crazy," he says. If you’d followed them in and stuck with it you would have made a lot of money.”

And that begs the obvious question - which insiders are buying what? Here are some notable insider buys from Monday's StreetInsider.com

• KB Home : CEO Jeffrey T. Mezger bought 16,000 shares at $6.32, bringing his stake to 376,393 shares.
  
• MF Global : CEO Jon Corzine disclosed the purchase of another 17,270 shares at $5.71.
  
• Celgene : CEO Robert Hugin bought 10,000 shares on 8/8 at $52.70, bringing his stake to 429,252 shares.

Want more insider buying? Click here to go to StreetInsider.com and check out the full report titled “While You're Busy Selling, Insiders Are Buying Like Crazy”

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Trader disclosure: On Aug 11, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (XOM); Terranova owns (CVI); Terranova owns (CAT); Terranova owns (OXY); Terranova owns (AAPL); Terranova owns (DAR); Terranova owns (FCX); Terranova owns (CACI); Terranova owns (ARUN); Terranova owns  (ORCL); Terranova owns (EMC); Terranova owns (NCR); Terranova owns (VMW); Terranova owns (IBM); Terranova owns (AMZN); Terranova owns (LULU); Terranova owns (LTD); Terranova owns (WFM); Terranova owns (JPM); Terranova owns (AXP); Terranova owns  (FXA); Terranova owns (VRTS); Terranova owns (LQD); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Finerman and Finerman’s firm own (AAPL); Finerman owns (BAC) and Finerman’s firm own (BAC) leaps; Finerman owns (JPM) and Finerman’s firm owns (JPM) stock and (JPM) leaps; Finerman's Firm Is Short (IWR); Finerman's Firm Is Short (MDY); Finerman's Firm Is Short (XRT); Finerman's Firm Is Short (SPY); Finerman's Firm Is Long S&P 500 Puts; Finerman's Firm Is Long Russell 2000 Puts; Najarian owns (AAPL); Najarian owns (BAC) calls; Najarian owns (C); Najarian owns (F) bonds; Najarian owns (MS); Najarian owns (PFE); Najarian owns (BX); Najarian owns (UNP) calls; Najarian owns (GDX) calls; Najarian owns (GLD) calls; Najarian owns (ECA)

CNBC.com with wires.