We expect earnings to improve sequentially in 2006 predicated on higher copper and zinc price realizations.

The zinc market is going to become as tight as copper. Every speculator is buying zinc now.

Supply isn't going up as much as demand so the prices of metal, especially that of copper and zinc, are going up.

May be the San Martin mine might be closing a year earlier than expected. It's a modest negative.

These stocks historically have price-to-earnings ratios in the high teens to low 20s, an I expect they'll return to that level.

Gold, copper and zinc have been moving strongly, but currencies have been more difficult for people. The largest (managed futures funds) focus on currencies, and that's been more difficult.