Follow the Deficit, page-5

The proof is in the pudding and I like profits as I know you do Red. The problem is getting reliable stats on deficit. I think most who use LME are using it as a proxy for nickel deficit - at least when considering medium longer term trend. Of course LME is only one network and it can move from there into other unknown dark pools. LME inventory is now well under 10% of estimated demand and has been dropping at 1-2% every 60 days for a while. That's a solid number. Economists and others can't agree on virtually any stat and that's the problem I have with trying to track aggregate supply/demand and therefore deficit, but you may see it very differently?