Fistly, I love your handly, and appreciate your contributions here.

Next, I agree on all counts. I would suspect, however, that as oil prices rise again (and they will as suggest by the chart just posted in my previsous message), prices will be higher for metals too.

http://finance.yahoo.com/echarts?s=^XOI+Interactive#{%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%2C%22comparisons%22%3A{%22^XAU%22%3A{%22color%22%3A%22%23cc0000%22%2C%22weight%22%3A1}}}

Note from this chart that the POO was in lockstep with metals right into the immediate aftermath of the Financial Crisis. Then, metal broke out, but traded places (going far lower than oil) two years ago.

Time for another trading of places, I would think, but I'm no expert. The dollar is more important here than ever, and these days it clearly has for more influence over metals prices than it does energy prices, given energy is in oversupply.

JMHO

By the way, you can't post this stuff on that other board. I gets removed for being off topic.