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.

James McKay

He did call 87 with Olev Rahn, it would be interesting to see what the other ex BT crew are doing (PM Capital, Paul Moore, Headley and Crivelli etc)