This Could Be A Bad Sign For The Paper Markets

High yield funds see 3rd highest fund outflow since 1992. Bank of America sugar-coats this by saying: "The disconnect between the two indicates to us that it was mostly hot money shorting the market that were responsible for ETF withdrawals, as opposed to the mainstream long-term HY investor base. Otherwise, the distribution between the two segments should not differ much, just as it usually relates over most other intervals. This, in turn, gives us one more reason to believe that such outflows could be temporary" sourced from Zerohedge.com.

But that's utter garbage. In the 9 years that I was trading junk bonds, when the hot money pulled out junk bond funds, it almost invariably pre-saged a big stock market sell-off. Given the action in gold/silver today, I'm wondering if market sensitive money is starting to move into gold as a flight to safety...GOT GOLD?  (two links worth reading).