net out flows from equities markets because of a short term lack of confidence in those markets

A disturbing trend has been the recent run up of many commodities without the corresponding run up in the stocks that are involved in the same sector. Gold and oil are hitting records yet oil and gold stocks have been sinking of late. Many pundits presume this market action demonstrates a short term market top ,but I am more leaning to the camp that worries that this is more of sign of net out flows from equities markets because of a short term lack of confidence in those markets.