Commodity prices, led by oil, are up across the board today, extending the resumption of the commodity rally which started toward the end of last week.  Those predicting a strong dollar rally and rotation out of commodity investments stand stunned by the vigor of the return to resources. 

 A gem of a resource opportunity presented itself today as shares of a zinc miner, Lundin Mining (LMC [1]), pierced above its $8/share resistance level on its march toward its 200 day-moving-average around $10.  See chart below.  Lundin also mines copper, silver, gold, and lead.  Zinc is the most beaten down metal with prospects for surplus supply expected to continue through this year.  The price, however, is expected to double over the next fiver years.  You will likely see the price estimates increase short term due to yesterday's earthquake in China which is affecting power supply and curbing production.  The third largest zinc miner in China is located in the province where the earthquake occurred.  If that weren't enough, Africa's largest zinc operation, Anglo American's Namibian zinc mine, has been idle for four days due to a miner's strike which shows no signs of immediate resolution.  

Our shares in Teck Cominco (TCK [2]) should see a welcomed lift as a result.  In addition I am adding Lundin to the portfolio.   Less than two months ago, Lundin announced that their zinc reserves rose 61% as a result of their 2007 acquisition of metal assets and increased exploration.  The real upside would be realized if their joint venture in Congo with Freeport McMoran (FCX [3]) could overcome a government delay and go into production.