"Thanks for your response, David regarding shorting commodities. I rarely look at coffee but the chart is interesting. I agree with you that copper is one of the potentially most interesting markets. I am more bearish on the macro environment than you, but given that copper is still 2 1/2 to 3 times above its cost of production, we don't need a depression to have a nice bear market! Long term we are all copper bulls."

David Fuller's view Re the macro environment, I have been looking for a slower phase of global GDP growth since commodities spiked earlier this year, giving central banks in growth economies another reason to raise interest rates.