David Fuller's view With a slightly in-the-money stop protecting Monday's purchase of platinum (weekly & daily), I doubled up on today's pullback, paying $1726.8 for another July position, including a pre-market opening $4 spread-bet dealing cost. The risks with this trade are that my stops could be too tight and precious metals could face more competition for investors' cash from firmer stock markets.

I mentioned in this section on Monday that I might reopen a hedge short closer to the April peaks. This morning I shorted the German DAX Index (weekly & daily), slightly above the sale level of my earlier position this month which I closed on Monday. I sold June DAX futures at 6246, including a 6-point spread-bet dealing cost. The risk with this trade is that following another correction to the trend mean and the papering over of the immediate European sovereign debt emergency, DAX may not only be less susceptible to another reaction but could also resume its cyclical bull trend. I may manage this position actively, given the opportunity.

There are no certainties in markets other than that they will fluctuate, but nothing ventured, nothing gained.