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[OEXCHAOS]

I talked about the FF sentiment at the lows in June and July, but I'm thinking it's worth a reminder. The skinny? FF's are NOT a good fade. There are a lot of smart folks here. If you view the majority here as J6P, you do so at your peril. Here's the poll results around the June low Date Fully Long Partially Long Flat Partially Short Fully Short 6/13/06 21.31% 26.23% 22.95% 16.39% 13.11% 6/14/06 26.47% 17.65% 17.65% 11.76% 26.47% 6/15/06 26.92% 23.08% 23.08% 7.69% 19.23% There were a lot of long traders right at the very low. If ANY crew is leaning too far in either direction for too long, there can be trouble, but with this crew, it's not a good idea to take excessive one day readings and automatically assume that it's a fade. Mark