"Perhaps the more ‘notable’ stories of 2011 might just come from sectors such as the two commodities that were in the “dog house” in 2010: natural gas and cocoa. It’s all about upside potential in undervalued niches versus chasing incremental gains (following 20, 30, and/or 50 percent gains already under the belt in certain commodities) at the risk of a trend reversal when least expected (with one possible exception: that to be allowed for certain items that we must all actually consume (or else): food and energy."

Jon Nadler

http://www.kitco.com/ind/nadler/dec162010.html