If you take a look at thebig picture you'll see that the world looks to be on the brink offinancial collapse which means less economic activity which means lessneed for commodities.
If the above is true then many of those whoare, or were, currently in commodity type stocks may be pulling theirmoney out and putting it in safe haven type investments like physicalgold or gold stocks or maybe even some currencies.
This would be especially true with commodity projects that are still years away from being productive.
There is also the forex aspect to consider.
Just a few thoughts on why this may not be preforming the way you hoped it would.
.....................................................................................................................
Hope you saved some beans.
I think the chance of a market rebound and/or some QE3 announcement soon are pretty good which would make this look attractive at these prices.