Volume & money flow · daily rule · Metals & mining
Money Flow Index on NovaGold Resources
NG with the play, last two years
Shading shows the play's call from the close that triggered it.
Money Flow Index (14)
Dashed lines at 20, 80.
Growth of C$10,000 since 2005
Log scale. After trading costs, with T-bill interest while out.
The record
The play against buying and holding NG over exactly the same dates, after costs.
| Play, since 2005 | Hold, since 2005 | Play, 5 yrs | Hold, 5 yrs | |
|---|---|---|---|---|
| Annual return | +0.9% | +0.4% | +6.5% | −0.4% |
| Total return | +22% | +9% | +37% | −2% |
| Worst drawdown | −93.7% | −97.3% | −77.7% | −70.3% |
| Volatility | 49.7% | 65.6% | 47.1% | 60.5% |
| Sharpe ratio | 0.24 | 0.32 | 0.28 | 0.23 |
| Time invested | 54% | 100% | ||
| Switches per year | 2.6 | 0 |
Every call, graded
Right on 35 of 57 closed calls (61%). In calls averaged +7.4%; out calls saw NG move +6.0% on average.
| Called | Call | Price | Until | NG moved | Result |
|---|---|---|---|---|---|
| Sep 17, 2026 | IN | C$10.42 | now | −9.4% | open |
| Aug 26, 2026 | OUT | C$12.89 | Sep 17, 2026 | −19.2% | ✓ right |
| Jul 10, 2026 | IN | C$8.43 | Aug 26, 2026 | +52.9% | ✓ right |
| Apr 20, 2026 | OUT | C$14.69 | Jul 10, 2026 | −42.6% | ✓ right |
| Mar 27, 2026 | IN | C$11.35 | Apr 20, 2026 | +29.4% | ✓ right |
| Jul 24, 2025 | OUT | C$7.62 | Mar 27, 2026 | +49.0% | ✕ wrong |
| May 22, 2025 | IN | C$5.01 | Jul 24, 2025 | +52.1% | ✓ right |
| Apr 25, 2025 | OUT | C$6.15 | May 22, 2025 | −18.5% | ✓ right |
| Sep 10, 2024 | IN | C$5.25 | Apr 25, 2025 | +17.1% | ✓ right |
| Jun 4, 2024 | OUT | C$5.23 | Sep 10, 2024 | +0.4% | ✕ wrong |
| Feb 17, 2023 | IN | C$7.87 | Jun 4, 2024 | −33.5% | ✕ wrong |
| Sep 23, 2022 | OUT | C$5.82 | Feb 17, 2023 | +35.2% | ✕ wrong |
An in call is right when the price rose before the next call; an out call is right when it fell. The latest 12 of 58 calls shown.
How the play works
- In when the 14-day MFI crosses up through 20.
- Out when it crosses down through 80.
The creators also stress divergences, which this rule ignores.
The case against
Valeriy Zakamulin tested moving-average timing on up to 155 years of U.S. stock data and found no statistically significant edge in the second half of that record. The rules earned their keep in a few severe bear markets and lagged buy and hold for long stretches in between.