copper futures, page-41

KnuckleSandwich,

the only issue I have with this current market trend/hysteria of always blaming the hedge funds/shorters is:

-it assumes they are always systematically selling it down past key support levels
- they are clever enough to know where they are
- their track record (performance tables) over the past 5 years have woeful (i.e. -5% to 5% pa returns so can’t pick a trend to save themselves)

I believe autobots are clearly being used as a way to hold the price at a certain level however it is not the same as systematically selling down OXR and now OZL. Market sentiment and lots of new leverage via CFDs after market gave everyone involved in it above average returns since 2003. This in turn has attached every tom, dic# and car dealer which has created the down momentum IMO.

The market is in the process of weeding them out and as I said previously sentiment will change and quickly.