Equities: If you're short or in cash - you're fucked!

That provocative statement sums up my opinion very neatly. Of the equities I watch and which are in the news in my local market, most have been beaten up going into results, only to then be bid up once the news hits. Also movements after positive earnings surprises tend to be stronger than I'd expect. I put this down to short covering. This market has got a lot of shorts and they're weak. They have fundamentals brutally against themselves: Liquidity for one. Then you have an IPO market and M&A starting to glow. Just check out the last 30 issues and check how many are up and by how much.

I think it's a great time to be long.

PS: The above is my position talking. Especially love financials as they've been lagging and are today moving big time!