 Despite the evident rebound, futures contracts were sold short by his firm against the equity long positions as a sort of hedge.He personally contemplated the odds and eventually instructed his traders to close out their bearish futures.Mr.Jabre said he and his firm could not bear the risk of the supposed nuclear explosion that would lead government officials to close the Tokyo Stock Exchange, locking his firm's capital in with no way to retrieve it for several months.The shares that were expected to bounce back did so the following week.