The Financial Post reports in its Thursday edition the S&P/TSX Venture composite index, the resource-heavy junior stock exchange, is down a whopping 65 per cent since peaking in early 2011. The Post's David Pett writes the figure includes a 17-per-cent drop in the past month alone, and it is hard to see much of a rebound any time soon with oil, gold and other commodities still on the skids. "The underperformance of the Venture will likely continue," said Arthur Salzer, who runs Northland Wealth Management. "While it may be a surprise to some investors, the commodity supercycle has ended." Mr. Salzer said large amounts of capital were raised to finance mining projects around the world during the past 10 years, leading to a vast oversupply of many hard commodities. "We may have experienced 20 years of financing within a decade's worth of time," he said. Small caps are having a tough time raising money, and compounding the problem, the majors -- Rio Tinto, Teck, Vale -- are protecting their much-needed cash balances. Colin Cieszynski, analyst at CMC Markets, said if there is any consolation for investors, he believes the TSX Venture Exchange may be due for a trading bounce since it is "really oversold."