David Fuller's view Following the S&P's additional gains this week (weekly & daily), I doubled my short position today, selling the September contract at 1573.38, including spread-bet dealing costs. This position is certainly not without risk, as I maintain that the S&P is in a bull market, helped by Mr Bernanke's QE. However, I regard the short position as a small insurance policy for my long-term equity investments, against the possibility of a pullback before global stock markets complete the current corrective phase, against which the US market remains one of a dwindling band of holdouts.