OZL had 14m short volume on friday. They are all about to be offically burnt. Anything with half decent market cap will eventually come along in a sustained rally - I believe this one will be sustained. The trend in USA growth is basically sideways instead of falling off the cliff that is currently priced in.
Now the fed owns F+F, the fear of total collapse in housing is taken out of the equation. Also (IMO) China has been waiting for a bottom in metals before some serious buying takes place. They may have just got it. Stockpiles will tell the story over the next couple of months.
Watch them cover, and then go long if this rally extends beyond Wednesday.
OZL Price at posting:
$1.51 Sentiment: Buy Disclosure: Held