Well they say the market turns on a dime and it is true. No its not FIRB. All resource stocks are rallying everywhere because of inflation concerns in the US. That has to do with them printing trillions and throwing it around like confetti. So money is again flowing into resources and commodities as a hedge against inflation. This is driving metals and energy higher and consequently resource stocks like OZL are looking good again.
The thing to watch is the US dollar. If it keeps falling its wooosha for all our resource stocks alright. But if the US dollar bounces tonight it will be a red day on Monday for resources.
OZL Price at posting:
$5.70 Sentiment: Buy Disclosure: Held
