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So much for "land of the free, home of the brave". Today: "land of the rich, home of the politicians"

That's part of it, but if they lose clients as in the case of Farmer, they lose fee income as well. Maybe Surf can explain how the Red Lite funds were charging their clients. It does appear that it was easy to redeem funds from Farmer....as that is not always the case with hedge funds.

It's simply a part of the fund manager's DNA and how he decides to run a fund. No question, he could have bankrupted the fund had the market continue to go against him after a -50% move.

Don't forget that IF Farmer was a big player in the NYMEX market, every penny move was +/- 1.25 million dollars. Thus: a 1 buck move in copper was worth $125 million !!

Love that 50's, 60's theme ! Those were the "good old days".

OMIGOSH, after that response, only 3 words will do here: GET A LIFE You've just got to be another American engineer out of work...it's quite a "tell".

That's exactly what happens....the "weak traders" with tight stops get taken out, and then the market goes in their direction. Farmer had both the capital and the guts to make sure that didn't happen to him. He knew his fundamentals....and the technicals were short-term against him. All he had...

That's great Surf....I take it he trades on both the LME and the NYMEX ? Does he max-out the NYMEX rules limit of 5000 contracts I wonder ? If so, are you aware that's $ 1.25 million dollars per penny move ?

Lately, it's been a good short-term play as well. What's your view long term ? Will 3.40 hold ?

I've been thinking about this for quite some time now. My logic is that the markets will rise due to the lifting of the uncertainty of who will be elected.

His only redemption was his money management technique...which was quite novel. http://www2.wealth-lab.com/Wiki/psFixedRatio.ashx In the end however, it could not overcome a weak trading strategy.

Well Surf, I'm not sure if Farmer is still short copper, but today was another weak day....it broke 3.50 basis=december 2012 contract. 3.40 is looming large as the bulls last hope for support. Otherwise, this thing is gonna break 3.0...

And it was. Copper has broken the 3.50 mark on the downside. Net up: 3.40 and that level is HUGE for any bulls left standing.

Guys - hang it up with the fighting.... Obama's got it made now...especially after today's employment numbers. Things are looking good and that's how they wanted it. See www.intrade.com - no chance for Romney now. The timing of the crisis (Sandy storm) and now this news was "perfect". Wow.

Entire rally of yesterday now gone at the open ! This is screaming: "I'm weak".

Yes, China is the big play here with the red metal. Can China make-up for the lost demand from weaker economies ? That's the $65,000 question.

Surf - you watching my posts in the Metals Futures ? Copper is really rocking now. Huge tug of war between bulls who are high on China and US housing vs. bears who are confident a weak Europe and a slowing US economy will bring it down. Copper went from 3.80 to 3.50 in 2 weeks ! Now there's a...

Indeed ! Up today by almost 4 cents.

This is obvious. Intrade.com has Obama ahead by a mile. He got quite a boost from this recent storm...wow, he was lucky in the timing of it.

So much for the "ultra-complex algos". It's always been said: "keep it simple". The Donchian method is a perfect example of that for trend following.