How does a stock price rise when more money is going out of the stock than is going in?    Free Cheese  The correct answer is that it cannot, provided the trading arena is actually a market. Where herding behavior is present, institutions are studied in terms of the euphemistic definition they are given by the multitude of beholders. This phenomenon occurs regularly in today’s financial markets because they are not markets but wealth and income extracting engines. Below is a comment I made on a forum today which makes the same    point.

To keep our sanity, we all define people and institutions with euphemisms. Life would be terrifying if we looked reality in the face without interruption.
Unfortunately we also analyze people and institutions as if the euphemisms were the real thing.
I would start by questioning whether market is the correct term to use in stock market. When a large group invests risk free, which is the standard for friends of the Fed and criminals who use government to position themselves above the law, market may not be a good term.
Odd statistics like this emerge because what we call a a market is actually a wealth and income extracting system that overrides supply and demand so that privileged operators can create the price changes according to their wishes.
It hurts to say this but traders think we have one thing when we have something else. I don’t know how this is accomplished but I think of it like sailing into the wind. It looks impossible but there is a way to do it.                                                           Free Cheese