For years, our mindset has been that returns can’t be found here like they can elsewhere. But if you look at what small caps have been doing, you’ll find that that clearly isn’t true right now. If this continues, 2011 could easily become the year of the good old U S of A.

But that doesn’t mean emerging markets and agriculture are done. Developing economies should continue to grow, while their middle classes demand more food and materials for building up their economies.

The real lesson here is to look around – sometimes new opportunities present themselves and we’ll miss them if we’re not paying attention. Have a simple strategy to find your spots; we use trend following, which you can learn all about here. If you’re a premium member, sign up for alerts so you never again miss a trading opportunity.

Read the disclaimer; Tom Lydon is a board member of Rydex|SGI. For full disclosure, Tom Lydon’s clients own shares of SCHA.