Seems to be a radical disconnect between commodity prices and...

Seems to be a radical disconnect between commodity prices and KZL. When copper dipped to $3 prior to GFC, KZL was at $3 (down from $6). Of course the full extent of issues weren't known at that time (so fair to say $3 was overpriced), but it then dipped to 30c range as copper approached $1.20. So if KZL is at 50c already (copper $3), where is it likely to be if copper hits $1.20 again? I wasn't holding KZL years ago, but they had debt issues like a lot of other miners right? This would have contributed heavily to the lows.

If miners stay in the doldrums for an extended period, I'd expect banks to take a thrashing as the economy withered. So why aren't the markets forward looking? Just can't get my head around KZL nearing all time lows, while banks are not far off their peaks. I'm tempted to take a short on banks with an equivalent long on something like BHP, but I'll probably sit on the sidelines for now, market too unpredictable for my liking at present.