Good evening,

There’s a bit of a “buy everything” feel in the market this week, and the talking point’s about how long it will last.

Myer’s sales numbers – its strongest in nearly 20 years – added to the growing faith in the health of Australia’s consumers, and helped keep a rocket under the big rebound under way in small cap retailers’ share prices.

The rally has caught some hedge funds by surprise, and has them scrambling to cover selected short positions. Breville Group was a prime example on Tuesday.

In Street Talk tonight, we take a look at Breville and its short position.

We also look at the Virgin Australia IPO pitching process, which is split along aviation company lines, and dig into Mineral Resources’ soaring share price after its stock closed at an all-time high on Tuesday.

MinRes’ run has been fuelled by investor demand for lithium, which is surely helpful for a company thinking about spinning off its lithium assets into a separately listed vehicle.

Happy reading,
Anthony Macdonald, Sarah Thompson and Kanika Sood
Street Talk editors