Reality v Perception

When the trader has a big position, the line between perception and reality becomes blurred. One of the big locals here last Wednesday pulled out his ruler and projected 2750 as the target.(I presume he had a sizable short position) On Friday, he commented in the morning, "I don't think cpo futures will go very far up..... high was 3020 and closed at 3015... This is how a position creates false perception. The reality is today, and fcpo trades at 3060....