Platinum's Kerr Neilson says that they've recently bought puts on the S&P 500 and the Russell 2000 indicies - on the basis of our technical indicators...

Platinum's Kerr Neilson says that they've recently bought puts on the S&P 500 and the Russell 2000 indicies - on the basis of our technical indicators suggesting that these markets are extended. However, Neilson says they are offsetting this caution with a long position in the Topix Index which we see as being in a very strong bull phase, assisted by the weaker Yen and the prospect of Japanese households entering the stockmarket with their new tax shielded savings plans.