gotgoldreport.com / Gene Arensberg / Sunday, August 10, 2014
It may be a little tough to see in this reduced size graph, but the GDX is holding a tenacious grip on the neckline of an inverted head and shoulders breakout, which can only be the case if there continues to be positive money flow into the miners more than not.
Positive money flow simply means that more capital is flowing into a sector or a stock than out of it.
The recent explosion in volume also suggests kind of the same thing – that “Big Money” and “Smart Money” (sometimes represented in the futures markets by the traders the CFTC calls “Other Reportbles,”) – the traders who use and trade futures for their own accounts, not for clients (mostly) – are taking longer term stakes in a beaten down sector.
More about them in a moment …
Thanks to BrotherJohnF