Many including myself were out of the market and stayed flat...

Many including myself were out of the market and stayed flat around end of May due to poor consumer spending data and depressing retail sales.

However, some muppets have bet money that we were running the risk of a recession and are caught on the wrong side of data. The retail sales data released today shows that consumer spending is on the rise and sentiment is +ve. This move is all the shorts running for cover and the money on the sidelines getting back in after being proven wrong.

I for one chased the rally this morning and am comfortably long. Should see a move to 5900s. If we see wage growth pick up that's very very bullish and RBA is likely to raise rates next year along with Bank of Canada, England and the Fed.

Shorts are in deep dodo here. The skepticism and disbelief from short sellers is the best news for bulls. Get long ladies and gents