David Fuller's view It was careless of me not to place at least breakeven stops on my Nasdaq 100 (weekly & daily) and S&P 500 (weekly & daily) hedge shorts when Wall Street weakened briefly last week on concern over the Egyptian situation. Despite both indices clearly being temporarily overextended relative to their 200-day MAs, I did not want to run even hedge losses in what remains a cyclical bull market. So having noted the new recovery highs on Friday, I was up early this morning to cover my March NDX short at 2382.9 against my short sale at 2303.9 on 1st February. I also covered my March SPX short at 1329.63 against my short sale at 1275.63 on 20th January. On seeing that precious metals were steady, I then reopened my long in platinum (weekly & daily), paying $1829.7 for an April position. Lastly, I increased my short in US 30-year Treasury Bond futures (weekly & daily) by a third, selling the decimalised March contract at 118.53.

Prices above include spread-bet dealing costs.