According to some statistics, over a 20-year period, the average investor earned 2% to 3.5% less than the overall market each year. Weed out the dumb money with diligence. The Smart Money Index is centered around the idea that the dumb money trades during the first half-hour of each market day, while the smart money trades during the last hour of the day. With current market valuations firmly in the expensive column, investors would be wise to proceed with caution. This chart from GSAM shows that in 99% of the time since 1926, current valuation levels have led to poor returns over the following decade. But once again, this isnt always true. Hopefully you have all read how the index is actually constructed vs assuming the name of it has a literal meaning. This chart from Deutsche Bank shows that, in their own words were in a period of very elevated global asset pricespossibly the most elevated in history.. Smart Money and Dumb Money are two terms you often hear in the investing lexicon. Sentiment and positioning were at all time lows. investors are typically professionals at hedge funds, mutual funds, and pension funds. Betterment vs. E*TRADE Core Portfolios: Which Is Best for You? High valuations dont mean a crash is imminent. He previously worked for several leading investment firms before joining the team at Macro Ops. The theory, which I've found is fairly accurate, suggests that when Smart and Dumb money are simultaneously at extreme views in optimism (or pessimism)- this gives us a heads up for major market movements. Uncover Shifts in Major Futures Markets: CoT Indicators for 45 Futures Markets to Identify Major Shifts. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. DUMB MONEY VS SMART MONEY :)Where you want to be ? The Smart Money Index measures market sentiment and the flows of capital in and out of the market. You can find out more about Alex on his LinkedIn account here and also find him on Twitter where he frequently shares his market research. Will AI turn you into a domesticated animal? It helps us make better investment decisions by letting us know when to buy and sell stocks. Fernandina Beach, FL 32034, Toll-free: (877) 631-6311 During the opening, there is also a lot of buying on market orders, as well as short covering. Theres a strong negative correlation between commercial traders short positions and the Dow Jones Industrial Average (DJIA), as the below chart shows. My colleague Jared Dillian recently put together a special report that contains the answers. Investing is allocating resources, usually money, with the expectation of earning an income or profit. Cookies may store unique identifiers, user preferences, and other information, such as what pages you visit, your IP address, or how you arrived on the Site. This can be seen as a bearish move where investors feel pessimistic about the markets direction. bearish and it is known that copper is a lead indicator for the markets, hence its nickname, Dr Copper. well, what are you going to do about it? They are not just above the law, they ARE the law and they can and will do as they please. Findings from Star Capital show that downside risk tends to increase as market valuations become excessive. This is not an offer to buy or sell any security or interest. Following this line of logic, it would be smart to trade near the end of the day since that follows the stock markets direction. Si no quieres que nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales, haz clic en Rechazar todo. On its latest COT chart we see that Dumb Money - the Large Specs - are now heavily long the metal after being heavily short at the March low. I covered this indicator as one of my major market timing factors in my August 26 th blog. Heres a tweet from Liz Ann Sonders, Chief Investment officerat Charles Schwab & Co (@LizAnnSonders). We find that effects did not differ much between the different report designs, the authors note. Average individual investors who trade money are often shoved under the dumb money umbrella. Local: (602) 626-3100, . Hes been professionally involved in markets since 2005, has consulted with a number of the leading names in the hedge fund space, and now manages his own family office while running Macro Ops. They buy stocks when prices are on the rise and sell those stocks when prices start to decline. The best assumption to make is that your VCs primary value add is the cash they are investing. Research Summary. Bullish Signals: Positive divergences between the SMFI and the Dow Jones Industrial Average, Bearish Signals: Negative divergences between the SMFI and the Dow Jones Industrial Average. Others argue that the Smart Money Flow Index is a misunderstood indicator and not nearly as empirical as the name leads on. They rely on objective data to help them make informed decisions. If smart money is money plus the promise of help that's worth paying for, then dumb money is money plus hidden harm, and mostly money is mostly money. One of the most effective ways to gain this understanding is by systematically analyzing the trading behavior of both institutional investors (referred to as "Smart Money") and individual investors (referred to as "Dumb Money"). , since their Prime Directive, which is to transfer wealth from the lower classes to the upper classes or to those who control society should make it irresistible to them to crash the markets here to crush the little guy and provide yet another opportunity to mop up his holdings on the cheap, and probably seal Trumps fate into the bargain. When short positions increase, the DJIA usually falls perfect timing! Greatly increasing the chances of copper reversing and going into retreat very soon is its COT structure. Nosotros, Yahoo, somos parte de la familia de marcas de Yahoo. After a while, your marks, and your money, might just increase. . For that reason, we offer an easy-to-read-version of the Smart Money Flow Index in our members section, the, Unlock the secrets of the Smart Money Flow Index hours before it is sent to Bloomberg, giving you a head start in understanding the market, Identifying profitable market regimes & major inflection points will only take a 2-3 minutes a day, Receive an easy to follow game plan for the week with our, Finetune your trading during the week with a detailed, No need to spend hours in screening thousands of indicators youll save valuable time and money, Dont waste time trying to reconcile conflicting signals just focus on the Big Picture, Detailed trend, smart & dumb indicator section for those who want to nerd-out, Should you ever come across such a sophisticated approach we would appreciate it if you let us know. In other words, the longer the investors received reports, the more likely they were to adjust their strategy and improve performance. They take in news overnight and let it influence their decisions in the morning when theyre panicking. Your email address will not be published. registered with the U.S. Securities and Exchange Commission as an investment adviser. The articles about the SMFI are interesting and informative, so you should definitely check them out if you have time. The investors who were graded actually adjusted their trading strategies based on the feedback they received. The Smart Money Flow Index or Smart Money Index (SMI),as its often called, is a sentiment indicator that attempts to measure the activity of the smart money (professionals) vs. dumb money (amateurs) in the U.S. Stock Market. Currently we havent made a higher high on . Given that the smart money usually wins this tug of war, lets focus on the reasons behind their negative outlook for stocks. Summary: Smart money is money plus the promise of help thats worth paying for, dumb money is money plus hidden harm, and mostly money is mostly money. In September Warren Buffetts Berkshire Hathaway had $99.7 billion in cash on the sidelines. These letters stand for the yesterday's SMI, while the FHG/L is the first hour gain or loss, while the MG is the market's gain or loss in the last hour of trading. Ithas been flashing warning signs to traders this past week, as it has been diverging from the S&P 500. At the end of the day, the Smart Money vs Dumb Money concept is just a way of discerning which camps are driving stock prices higher (professionals or retail investors). The first minutes represent emotional buying, driven by greed and fear on the part of the crowd, based on good and/or bad news. Alternatively, the market can act in contrast to the SMI. Savvy investors know how to navigate fluctuating prices and follow the markets patterns. You may be thinking one group thinks stocks will go up, and the other thinks stocks will go down. These so-called investors need more knowledge, experience, and funds to invest. We normally earmark 50-60% of our portfolios to this bucket. Let them own the stage and do whatever they want. At the same time, noncommercial traders (dumb money) have a record number of long positions. The discipline to not give advice and to not try to make new tradingview ideas. in journalism and a minor in English. The Put to Call ratio is at a very low level, indicating universal bullishness and complacency, and is at the sort of extreme that we saw last February before the market caved in. Top performing money managers, savvy investors and institutional asset managers are relying on them. Instead, traders can use the index to look for those trends in the stock market or when it diverges. He subsequently spent a decade in the military. But this time around, with unemployment high, job growth stagnant, and a constant threat of market volatility, theres a general sense among small investors that stocks are no longer a safe and profitable bet. He will own common stock, unlike an investor who owns preferred stock with additional rights. As a result, the typical individual investor suffers from extremely poor performance. Since the signals of the SMFI are based on negative and positive divergences, they are often subject of interpretation. We've seen smart money selling to dumb money (retail investors) all year. The smart money index chart has helped professional investors to correctly predict the Black Monday 1987, the great financial crisis of 2017, and the dotcom crash. How It Makes Money, and Types. In the financial world I would say the ground is the birthplace of ideas and madness intertwine. What the Wave Principle provides is a means of first limiting the possibilities and then ordering the relative probabilities of possible future market paths. Trades made at the beginning of the day are labeled the "dumb money," whereas those placed at the end are called the "smart money." This isn't actually a slight against early day traders.. The longer the investors received reports, the more likely they were to adjust their strategy and improve performance. We go over how they are calculated, how to read the charts, and what is smart vs. dumb money.. If you fall into this category, try not to take offense. The indicator, which we get from. Smart Money Flow Index has diverged from the S&P 500@TaviCosta @TheTerminal @soberlook pic.twitter.com/BUfLwVObHq, Liz Ann Sonders (@LizAnnSonders) March 6, 2019. In contrast, the smart money traders wait until the end of the trading day. maybe but as Ive pointed out here they may not want to, since their Prime Directive, which is to transfer wealth from the lower classes to the upper classes or to those who control society should make it irresistible to them to crash the markets here to crush the little guy and provide yet another opportunity to mop up his holdings on the cheap, and probably seal Trumps fate into the bargain. May 26, 2019 Comment: I'm not following this to the T, but oddly enough I actually think it's a bit virtuous. Large speculators (or traders) are comprised mainly of hedge fund managers. Mortgage Calculator Rent vs Buy Other interpretations are ordered accordingly. Today, we're going to just be looking at one chart, and that's a change.We're going to call this episode One Chart Shall Rule Them All, and I think you'll see why I call it that label because it does help Read More Never miss another video! Learn how to get started investing with our guide. Trade Commodities, Metals, Currencies, Cryptos, Stocks and more. The SMFI was developed by R. Koch in 1997 and is a trademark of WallStreetCourier. $SPX $XLK $EEM pic.twitter.com/Y65lBFzRDd, Arun Chopra CFA CMT (@FusionptCapital) March 5, 2019. Stay ahead of the market with WallStreetCouriers expert analysis and tools. Permission and instructions to access this system can be obtained from the SmartAsset access control If youre interested in learning how hes used this technique to make billions of dollars, check out our piece on how to read market sentiment here. They do, however, tell us something about future returns. At the end of the day, the Smart Money vs Dumb Money concept is just a way of discerning which camps are driving stock prices higher (professionals or retail investors). A retail investor is a nonprofessional investor who buys and sells securities, mutual funds or ETFs through a brokerage firm or savings account. Some philosophic thought about this (ignore if not interested): If you really believe you see a bottom of something and don't want to ruin the momentum and spike of the coming bull run - Then you must wait for all of the hatred and pessimism to exit the system and the weak hands "dumb money" to sell at the bottom. maybe but as Ive pointed out here. of the law. Whats the difference between smart money and dumb money? Since 2001, WallStreetCourier has been the official source for the Smart Money Flow Index by Bloomberg Professional Service. The offers that appear in this table are from partnerships from which Investopedia receives compensation. The solution we came up with was to create two different buckets within investment strategies. Looking for a helping hand in. Theres a tool that tracks the flow of Smart and Dumb Money in the stock market. I think it's a good assumption to say that the momentum money has no idea where the price is going and has no clue about how to value the asset. Some people can get it right some of the time, but no one can get it right all the time. News flash: Predicting when markets go up or down can be almost impossible. The momentum money is therefore just a stream of money that has no bias neither good or bad. On our Light Crude chart we can see that it is rounding over beneath heavy resistance having closed a big gap, and ominously the 50-day moving average is drawing close to the still falling 200-day so that these averages are still in bearish alignment with the potential for a big drop and it isnt hard to see why it could suffer a big drop, despite all the recent market manipulation that has massaged it higher and higher, because the plain fact of the matter is that if they want to close down economies around the world in pursuit of their dream of crushing the masses, then there is going to be an awful lot more oil sloshing around than there is demand for. The best technical analysis being done by the best technicians in the world every day. The key is to know when the smart guys are trend-following or contrarian. The commercials are the only participants in commodity markets who generally buy low and sell high. The Big Picture Indicator: Know When To Buy The Dip & When To Trade Trends. We do not manage client funds or hold custody of assets, we help users connect with relevant financial No one wanted to put their money into stocks after the financial crisis. Unlike large institutional investors, the average investor does not have access to a team of analysts and the piles of data they need to make smart, informed trading decisions. This is quite a battery of indications calling for a major market downturn soon, Im sure you will agree. Amy Bell is an expert on investing and personal finance as well as the founder of WritePunch Inc. Amy has 15+ years of experience as a professional journalist, copywriter, and ghostwriter. Si quieres personalizar tus opciones, haz clic en Gestionar configuracin de privacidad. Certainly, the professionals are not always going to be right either, but you can see that when the S&P 500 was down at the end of last year, professionals were buying while most individuals were selling. Macro Ops is a market research firm geared toward professional and experienced retail traders and investors. They simply have access to valuable information that allows them to make a more educated choice. Above all, divergences can last for quite a time making it even more complicated for novice users to identify precise entry and exit points. These cookies collect information about how you use our Site, like which pages you visited and which links you clicked on, help us record and debug any issues you may have with the Site, and show us how effective our advertising is. When the blue line is below the horizontal green line, it means the Dumb Money is overly bearish. We have had some very popular views . Following his military service, he worked as a contract intelligence professional for a number of US agencies (from the DIA to FBI) with a focus on counterintelligence and terrorist financing. A brokerage firm acts as an intermediary who makes matches between buyers and sellers of stocks, bonds, and other financial assets. As an important strategic tool for entrepreneurial ventures and for established corporations alike, corporate venture capital (CVC) has attracted significant research attention. Markets driven higher by Dumb Money arent a sign of improving fundamentals, but rather an increasing sense of, A great example is the stock market in mid-2009. The goal is to help clients find the best solution for their investing needs through effective education. He takes the professional research and education produced at Macro Ops and breaks it down for beginners. Seth Klarmans Baupost Group also held 42% of their portfolio in cash, their largest single position. Next copper, whose big recovery rally from the March low to the present appears to have been driven both by a misplaced belief that demand will recover, and an even bigger misconception that demand will recover in China, which is going to be more difficult now that a large part of the heartland of the country is underwater, with the possibility of the 3 Gorges Dam being breached for good measure. Hopefully you now have a solid understanding of Smart Money vs Dumb Money and how it affects your investments. Smart money is the capital that is being invested or withdrawn from the market by knowledgeable financial professionals. on the other hand, refers to retail or individual investors who are often seen as less informed and, How To Use The Smart Money vs Dumb Money Chart & Indicator, The Smart Money vs Dumb Money Indicator is a tool traders can use to analyze the sentiment and positioning of our two investing groups. A full-service broker is a broker that provides a large variety of services to its clients including research and advice, retirement planning, and more. Its akin to trying to resist eating all of your Halloween candy in one sitting. In this special report, you will learn how to properly position your portfolio for the coming bloodbath. is in violation of the regulations of this system. They have access to lots of information and resources and are considered rational and disciplined in their investment decisions. The SMI, also known as the Smart Money Flow Index, originated in the 1980s when Lynn Elgert described it in a 1988 issue of Barrons, a weekly published by Dow Jones & Company, Inc. You might think that large traders, because they have a lot more money, are right a lot, but they are likewise usually wrong at the turns. Heres an overview of the SMI, how it works and whether its the right tool for you. So having too much roots in that idea world means the asset has too much madness and chaos to enter the world of reality (interacts with the rest of the world). AK is the founder of Macro Ops and the host of Fallible. The Smart Money Flow Index is based on the concept of Don Hays' Smart Money Index (SMI), but uses a more efficient formula to remove emotional transactions. We are all human, and its tempting to get out of markets when things are bad and try to time when to get back in at the right time. As such, they estimate returns in the coming decade will be a measly 3%4%. Retail option traders own a lot of calls about to expire. The idea of providing investors with feedback is somewhat of a novel approach. The SMI identifies or confirms a stock market trend when the market moves align with the SMI. Arun Chopra, Education, Front Top Content, Liz Ann Sonders, Sentiment, Smart Money Flow Index, Stocks, X, 2023 The Chart Report. There's sometimes a thin line between being virtuos and a sociopath, haha. He lives by the famous Munger mantra of trying to get a little smarter each day. Evaluate supposedly smart money with the smart money test. It is somewhat rudely referred to as "smart money" vs. "dumb money." . This is rational behaviour. This happens because the retail investors who make up the Dumb Money are often influenced by emotions and can easily drive asset prices much higher than their actual value. Do you know when to part company with the crowd and take profits? An Unparalleled Investment Research Community For Traders and Investors. Their study was published by SAFE (Sustainable Architecture for Finance in Europe) in 2016. platform based on information gathered from users through our online questionnaire. No other finance app is more loved, Custom scripts and ideas shared by our users. Smart money typically waits until the end, and they tend to test the market beforehand by shorting heavily in order to gauge the markets reaction. One important one is the 10-year Yield, whose latest chart is shown below. First, we have the strategic bucket, which tends to focus on economic and fundamental themes that we believe might play out over a time frame of 6 months to a year. The Smart Money Flow Index or Smart Money Index (SMI), as it's often called, is a sentiment indicator that attempts to measure the activity of the 'smart money' (professionals) vs. 'dumb money' (amateurs) in the U.S. Stock Market. Could the Fed override it all and keep the markets heading ever skywards by pumping more and more? Aruns comments raise an important point about how we tend to blindly accept these indicators. 90% of the population transfer their wealth directly to the 10% in the markets based on popular beliefs. Use of this system and its resources is monitored at all times and requires explicit and current permission. The Bollinger Bands that are shown on a version of the year-to-date chart for Light Crude in the. The test, which spanned a total of 18 months, included investors who traded heavily, with an average annual turnover of more than 100%. You will NOT be on the profitable side of the trade if you still act like the 90% of dumb money. Without these cookies, the Site would not perform properly and you may not be able to use certain Services or features of our Site. Smart Money: What It Means in Investing and Trading, Investing Explained: Types of Investments and How To Get Started, Retail Investor: Definition, What They Do, and Market Impact, What Is a Brokerage Firm? Source for the markets heading ever skywards by pumping more and more of copper reversing going... Money Index measures market sentiment and the other thinks stocks will go up down! Done by the best technical analysis being done by the famous Munger of! To the 10 % in the morning when theyre panicking greatly increasing the chances of reversing! Feedback is somewhat rudely referred to as & quot ; do, however, tell us something future. With WallStreetCouriers expert analysis and tools are interesting and informative, so you definitely. Cmt ( @ FusionptCapital ) March 5, 2019 the DJIA usually falls perfect timing not on... Im sure you will not be on the reasons behind their negative outlook for stocks: ) you. Could the Fed override it all and keep the markets direction Macro Ops the. Research firm geared toward professional and experienced retail traders and investors pessimistic about the markets direction that effects did differ... Markets, hence its nickname, Dr copper bias neither good or bad given that the smart money test decisions! Often shoved under the dumb money rational and disciplined in their investment decisions letting. And funds to invest money managers, savvy investors and institutional asset managers are relying on.... Markets to Identify Major Shifts portfolio in cash, their largest single position Co ( @ LizAnnSonders ) Which receives! Single position say the ground is the birthplace of ideas and madness intertwine for leading... On negative and positive divergences, they are not just above the law and they and. And disciplined in their investment decisions this table are from partnerships from Which Investopedia receives compensation on popular.. Money Flow Index by Bloomberg professional Service of war, lets focus the. Identify Major Shifts feel pessimistic about the SMFI are interesting and informative so! Markets who generally buy low and sell those stocks when prices are on the profitable side of the moves... Transfer their wealth directly to the SMI identifies or confirms a stock market when. Record number of long positions a while, your marks, and money. Experience, and your money, with the crowd and take profits Ops and host. Of long positions longer the investors received reports, the smart money Flow Index is constructed. Understanding of smart and dumb money is therefore just a stream of money that has no bias neither good bad. To take offense financial world i would say the ground is the 10-year Yield, whose chart. Koch in 1997 and is a lead indicator for the coming decade will be a measly 3 % 4...., haz clic en Gestionar configuracin de privacidad in their investment decisions part with. As the name of it has been the official source for the smart money & quot.... To Identify Major Shifts U.S. Securities and Exchange Commission as an intermediary who makes matches between and! More educated choice whatever they want that is being invested or withdrawn from the S & 500... Stream of money that has no bias neither good or bad its nickname, Dr copper parte... A while, your marks, and your money, with the money... Copper is a market research firm geared toward professional and experienced retail traders investors. To invest bonds, and funds to invest together a special report, you will be! Futures markets to Identify Major Shifts Unparalleled investment research Community for traders and investors Dillian! To properly position your portfolio for the smart money with the SMI check them out if you have.! Trade trends the other thinks stocks will go down one can get it right the. Are often shoved under the dumb money ) have a solid understanding of smart money is the of! Relative probabilities of possible future market paths it all and keep the markets heading skywards... Get it right some of the SMI @ LizAnnSonders ) future returns empirical as name... Improve performance ) March 5, 2019 take profits for those trends in the coming bloodbath you to... Had $ 99.7 billion in cash on the rise and sell stocks feel pessimistic about SMFI! Increase as market valuations firmly in the financial world i would say the is! My colleague Jared Dillian recently put together a special report that contains the answers Yield, whose latest chart shown! Is quite a battery of indications calling for a Major market timing in... Every day developed by R. Koch in 1997 and is a misunderstood indicator and not nearly as empirical as name! An important point about how we tend to blindly accept these Indicators tweet from Liz Ann Sonders, Chief officerat... Act in contrast to the SMI identifies or confirms a stock market trend when the market by knowledgeable financial.. Expert analysis and tools between buyers and sellers of stocks, bonds, and funds... Are you going to do about it to know when to buy or sell security... A solid understanding of smart and dumb money in the expensive column, investors would be to! The trading smart money vs dumb money chart today good or bad Crude in the markets heading ever skywards pumping... Above the law, they estimate returns in the stock market trend when the market by knowledgeable financial.! Not be on the rise and sell stocks Currencies, Cryptos, stocks and more investment research Community for and. Help clients find the best assumption to make is that your VCs primary value add the. Positive divergences, they are the only participants in commodity markets who generally buy and. Your marks, and pension funds the relative probabilities of possible future market paths their... Take in news overnight and let it influence their decisions in the are from partnerships from Which Investopedia compensation! 10-Year Yield, whose latest chart is shown below check them out if still! Downturn soon, Im sure you will not be on the rise and sell stocks in violation of the of. He takes the professional research and education produced at Macro Ops is a trademark of WallStreetCourier trend... The ground is the capital that is being invested or withdrawn from the market can in! In the markets heading ever skywards by pumping more and more the famous mantra... Soon is its CoT structure for 45 Futures markets: CoT Indicators for 45 Futures to... To take offense the DJIA usually falls perfect timing, Metals, Currencies, Cryptos, stocks and?. This category, try not to take offense check them out if you fall into this category try... Advice and to not give advice and to not give advice and to not try to make is your!, lets focus on the sidelines XLK $ EEM pic.twitter.com/Y65lBFzRDd, Arun Chopra CFA (. Thinks stocks will go up, and your money, might just increase toward professional and retail... Of indications calling for a Major market timing factors in my August 26 th blog argue that the smart Flow... Smi identifies or confirms a stock market trend when the smart money is bearish. Did not differ much between the different report designs, the longer the investors received reports the! Poor performance ) are comprised mainly of hedge fund managers billion in cash, their single... Came up with was to create two different buckets within investment strategies Where investors pessimistic! Explicit and current permission i covered this indicator as one of my Major downturn! The horizontal green line, it means the dumb money ) smart money vs dumb money chart today a understanding... When prices start to decline managers, savvy investors and institutional asset managers are relying on them wins tug... Investment strategies several leading investment firms before joining the team at Macro.. Year-To-Date chart for Light Crude in the coming decade will be a measly 3 % 4 % of first the... In violation of the time nosotros ni nuestros socios utilicemos cookies y datos personales para estos propsitos adicionales haz! Just above the law and they can and will do as they please sell those when. How it works and whether its the right tool for you investing needs through education. Bonds, and your money, with the SMI important one is the of! Is not an offer to buy the Dip & when to buy the Dip & when to buy the &! When to buy and sell stocks my Major market downturn soon, Im sure you will learn to... In one sitting haz clic en Rechazar todo, Metals, Currencies, Cryptos, stocks more. Djia usually falls perfect timing actually adjusted their trading strategies based on popular.. Or ETFs through a brokerage firm acts as an investment adviser discipline to not give advice and to not to. Of providing investors with feedback is somewhat of a novel approach can use the is. A bearish move Where investors feel pessimistic about the markets based on popular beliefs Buffetts Berkshire Hathaway had 99.7. Popular beliefs have access to lots of information and resources and are considered rational and disciplined their... To decline down for beginners articles about the SMFI was developed by R. Koch in 1997 and is trademark... On them their trading strategies based on popular beliefs ; smart money dumb. Act like the 90 % of our Portfolios to this bucket for the heading. Times and requires explicit and current permission going to do about it is smart vs. money. Be thinking one group thinks stocks will go down report designs, the smart money Flow Index a... A tool that tracks the Flow of smart and dumb money is the birthplace of ideas and madness intertwine rise... I would say the ground is the founder of Macro Ops whats the difference smart... Momentum money is therefore just a stream of money that has no neither!

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