We are living in a materials world.

This article from SmartMoney.com is from a month and half ago, but if in fact this turns out to be a longer term bull market in commodities, a month or two won't matter so much.

There is sensible advice here: Dollar cost averaging into a respectable mutual fund. Dollar cost averaging is a great way to smooth out the bumps in the road.

T Rowe Price New Era fund, which contains metals, oils, timber, etc and has very low fees, lets you get in with a $50 a month automatic deposit.