"The race isnt over for at least 5-7 years, and an initial high in 2012 is where I will first assess the JPMs. For now, well, it is what it is...pathetic and highly suppressed to squeeze out the last drop befpre flipping to bull side and causing 2006, Part TWO........pic."

This is great Big Picture analysis. Thanks for that.

What do you think of Cockerel's "only physical" conviction?

I appreciate all opinions on this great forum. From your observation above, you seem to postpone the effect of higher bullion prices on JPM's into the future (towards 2012).

Could you explain why?