Another way to look at $gold miners positioning.

$QQQ shares outstanding rose by 13% in the first half of this year.

$GDX shares outstanding declined. 

GDX outperformed QQQ YTD as well as in 2019.

This is incredibly bullish.

$SPX $NDX $GLD $SLV $GDXJ
https://t.co/Xb6xzkL0Wg https://t.co/5it9M5zdR3