Fair enough mate, tongue was firmly in cheek. I would suggest you are right to a degree & particularly when there was huge amounts being sold out of the ETFs, however as you have stated before selling is selling, or are you now in agreement that Chinese buying differs to that of the likes of futures & ETF trading? As ETF selling has been very small now for months I would imagine any hedged position that existed would be fairly well depleted. The figures would also show up in the futures positions as you have rightly said that's where all OTC positions end up. Unless of course it is all stored in the studio where the moon landings were filmed of course.... haha
