BruceY,
It wasnt rocketscience, just familiarity.
I think the other thing we need to account for in MCR's recent strength is that as smart money re-enters commodities, its likely to first find a home in the "blu chip" producers within each sector...due to the various t/o's/consolidations that have occurred over the last 2 years (think Jubilee and ors)...theres just not that many quality safe houses to tuck your money into...pure-explorers will have their day, but just not as widespread at the moment...too early in the cycle...this I thinks accounts for part of our new-found strength.
I still am thinking north of $2.20 and range trading to $2.50 until LME stocks fall away...but am just enjoying the ride.
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