Turquiose = Precious Metals Mutual Fund Market Cap
The markets usually advance while leaving most traders behind...
Most investors/traders buy and sell at the wrong times...
You can see this clearly in the above chart...
When there are large redemptions in this PM mutual fund the price of GLD bottoms...
When the price of GLD moves up the investors chase it and buy the PM Mutual Fund...
So the PM Mutual Fund was being bought and sold at the wrong times...
Currently GLD moved up and investors do not look like they are chasing it yet...
This makes me believe that GLD may be moving higher...
When investors start chasing GLD by buying the PM Mutual Funds, the caution flag will be waving again...
Let's wait and see...
Past performance is not indicative of future results.
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