Large Inflows In The GDX EFT, What It Means For Miners

http://m.seekingalpha.com/article/1603192

According to EFT Channel, on a week-over-week basis among the universe of ETFs covered by the site, the largest inflows were seen in the Gold Miners ETF (GDX), which added 11.4 million shares, or a 4.7% increase week over week.

Back on July 11 (please consider: Gold Selling Exhaustion, Miners And The Bottom In Gold), I hinted that maybe gold, and especially gold stocks, have bottomed due to selling exhaustion. Looking at the relevant performance of the top 5 positions of the GDX EFT since then, the bounce that most of these stocks exhibited probably confirms the selling exhaustion theory I talked about back then.