Changes

I think agriculture is the next big thing, and it still has a few years left in its run. However, recent price action on DBA is not as good as I hoped, and my positions in POT, MOS did better than I hoped. Therefore, recently (mainly today), I reduced DBA and DAG, and added MOO and POT. Now MOO is my new number 1 position. MOO has following main holdings: POT, MOS, DE, ADM and MON. I think all these fertilizer companies, agriculture equipments and service companies will do better than DBA in the coming years if food crisis is to continue, even just keep the price as its current level, these companies will do better.
Just early this year, potash price imported to China is tripled in less than 15 months. I think POT, which controls 22% of world potash reserve, will have great earning power moving forward. So I'll play and trade according to these new information. Even technicals indicate POT may break to new highs soon.
It's easy for POT to double in a year or two, but it's difficult for DBA, even DAG to double(2x DBA). Considering the public outcry on food prices. So I'll keep this as future guidance, usually, companies are better leveraged than the underline commodities.
MOO:
MOO tracks the DAX Agribusiness Index. 0.65% expense ratio. MOO holds 40 companies that trade on 13 exchanges worldwide. Companies must be worth at least $150 million to be included in the ETF, reports Index Universe Staff. The U.S. makes up the most of MOO at 55% followed by Canada at 9.3%. Holdings in the ETF include agriculture chemicals at 34%, agriproduct operations at 33.5%, agriculture equipment at 24.3%, livestock operations at 5.6% and ethanol/biodiesel at 2.3%.
Top 10 holdings of MOO as of 3/31/2008: %

Syngenta Ag		8.2
Monsanto Co.		7.91
Potash Corp. Of Saskatchewan Inc.		7.7
Deere & Co.		7.69
The Mosaic Co.		7.45
Wilmar Intl Ltd.		5.25
Komatsu Ltd.		4.94
IOI Corp. BHD		4.79
Yara International ASA		4.6
CNH Global NV		4.49

Positions and changes

1. I sold YHOO last Thursday, ahead of the rise on Friday, and I was kicking myself on Friday, with YHOO up more than 6%. And today with YHOO down 16% now, I feel lucky!
2. I added POT and MOS on Thursday and Friday. I think long term, these companies are better leveraged than DBA; and similarly, GDX is better leveraged than GLD. But with oil cost high, it will put pressure on gold companies. So my focus will be on agriculture and fertilizer companies.
3. My main position is DBA, followed by POT and DAG. I also got enough GDX.
4. I will add these on weakness, and take profit on sharp rise.

Patient

I don't have enough patience. I added commodities too early this time, after I exited almost all of them in March. As a result, I cut almost all PM related positions at a loss and now only hold agriculture related positions mainly in DBA. I also keep GDX since it's down too much and I think it's a value play.

If I wait until today, then I can add aggressively now in DBA, great entry is the key!

Now I will only add a small position each time, since I don't have enough cash and current positions are entered at higher prices.

I still think DBA is not done, but what do I know? I underestimated the power of the dollar rally.