copper up 2.3%, DOW up 150+, Aussie OZL traders got that Friday very wrong indeed. Copper now moving back to 5yr highs IMO.
From the bull perspective, very interesting few months ahead, if we get:
- US unemployment trending down towards high 7s. - An EU fund worth $1t+ and a deal for private investors in Greece - Stable Chinese growth - AUD/USD around parity - 0% US rates
Obviously this is bright side of the coin, but it's almost looking like OZL is about to go for a little run. Surely it and other miners have been priced for a major recession mk2, and that can't last forever once the storm clouds clear.
OZL Price at posting:
$10.80 Sentiment: Buy Disclosure: Held
