David Fuller's view

China long and S&P hedge short trade rolled forward.

 I have been doing very little trading this year which was probably a good idea, especially as I was preoccupied with the challenge of maintaining this service while planning its move to FT Money.  However, I did have two small positions which I have allowed to be rolled forward over the last week.

 These were a long in the JPMorgan Chinese Investment Trust (JMC LN) which I held in the December contract, purchased at 162.38p on 17^th May.  This expired at 155.38p on 17^th December and a new long was simultaneously opened at 160.96p. I am holding this for its medium to longer-term recovery potential.  The second position was a very small hedge short in the S&P 500 Index, which I need not have opened since the traffic has been practically one way throughout Q4.  This short was opened at 1745.88 and 1766.38 on 24^th and 29^th October.  These expired and were bought in at 1809 on 20^th December when I allowed the automatic rollover position to reopen a same-sized short position at 1801.70 for the March contract.  The uptrend is still consistent and benefiting from the QE tailwind but I will be surprised if the trend does not become choppy in 2014.  Prices above include all spread-bet dealing costs.