NEW YORK (ETF Expert) -- Recently, market participants have been adding to their stock risk. The activity seems to fly in the face of how markets tend to react to significant uncertainties like the fiscal cliff.While many expect a financial deal to get done, the market's collective calm is reminiscent of the debt ceiling stalemate of 2011. Stocks pulled back in May and June of last year, then rallied back in July. Investors expected that cooler heads in the U.S. Congress would prevail. When they didn't, stocks collapsed in late July-early August.