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[OEXCHAOS]

As time has gone on, "Joe 6-pack" is becoming less and less of a legtitimate target for exploitation. Sure, they'll do it from time to time, but I suspect that the small hedge funds are far more enticing. After all, it's LEVERAGE that forces otherwise "uneconomic" buys or sells and the small long-short hedge funds are all about leverage. Furthermore, there are now lots and lots of them and they have enough money to make taking it worth while. Think about it. Even a tiny $20MM hedge fund might control 10 times that in assets at any given time and their turnover of those assets meets or exceeds that of a decent sized mutual fund. Don't fixate solely on one sentiment sector. There's better fades than Joe 6P. Mark

[SemiBizz]

That's the nice thing about using VOLUME instead of sentiment data. With Volume you don't worry about who said what, they either bought or sold and you don't care who bought or sold it... It's all in the volume, they can lie about their positions, but they can't lie about their trades, they show up and are counted, day by day, minute by minute...