David Fuller's view I resumed my Baby Steps tactic of buying back USD/JPY below where I last sold this position. This morning I paid ¥79.818 for another June stake, including spread-bet dealing costs of ¥0.12 points. This is a risky trade because there is no certainty that further G-7 intervention will occur to weaken the yen, although that would certainly help export earnings in Japan's tsunami-damaged economy.

Given the current unwind of speculative long positions in commodity markets, I shorted the NYME gasoline (weekly & daily) contract this afternoon (listed as No Lead Gasoline by IG Index). I sold short the June contract at $3.2358, including spread-bet dealing costs of $0.030. Caution: gasoline is a big contract.

Later, I opened a long in the CBOE SPX Volatility Index (VIX) (weekly & daily) this afternoon, paying 18.43 for a May contract, including a 0.10 spread-bet dealing cost. I would have preferred the next contract since IG's May contract expires on the 17th, but no other position is currently available with the firm.

This evening, I shorted the German DAX Index (weekly & daily), selling the September contract at 7424.8 and 7400.5, including a 6-point spread-bet dealing cost.

Among my other trades, I have some CAD/JPY longs (a loss leader so far), some S&P 500 Index shorts and US 30-year T-Bond shorts (also a loss leader at the moment). T-bond futures require a downward dynamic to signal that selling pressure has regained the upper hand.