Looks like 2012 could surprise.

1. Even the biggies, Sinclair, Lasonde have recently tempered their bullish optomism. (contrary indicator?)

2. US dollar at record Commercial Short levels.

3. Silver COT at record low Commercial Short levels.

4. US goes to war with Iran and blames gold rise on war event (not economic).

5. China opens new PM trading market in June/July, with "fair" physical prices.

6. World rushing to reduce US treasury holdings.

7. Bond market crash inevitable...(at some point in the future)

8. $200 oil as Iran closes the shipping channel.

9. Record oversold indicators on PMs and PM shares.

Will "it" happen?...just keep buying value (leveraged ounces) and it doesn't matter.

All the best in the New Year everyone!

gildage