I couldn't agree more about TA. Or FA at this point. Up is down and down is up...sometimes. I go back to my contention of several months ago, that the Chinese are essentially blackmailing the US to cap the price of PM's so they can offtake as much physical as they are able before the public smells the con. Seems pretty obvious, the Chinese say "look, we're long trillions of paper from you, you cap the paper metals market to confuse price discovery and we trade paper dollers for paper contracts and then offtake what we can without disrupting the maket (ie, causing the price to rise too quickly). Otherwise we dump your paper and you as a nation drop to third-world status because your borrowing costs crush you". I think the Germans have figured this out and that is why they are trying to get their gold back.

So "fundamentally" we are all on the correct side of the trade. Question is will we be be alive, either physically or financially, to reap the rewards of this correct call?