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Pastimes : All Clowns Must Be Destroyed -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (38422)	6/7/2000 11:37:00 AM
From: re3	Read Replies (1) \| Respond to of 42523

Message 13842589

To: LLCF who wrote (38422)	6/7/2000 11:47:00 AM
From: marginmike	Read Replies (1) \| Respond to of 42523

They'll be with you shortly. . . As long as we're mentioning the Commitment of Traders Report from the CFTC, it turns out that the commercials have their largest S&P 500 short position ever. The folks on the other side of the contracts are generally smaller traders who tend to be less well-financed than the large speculators. This is a big statement being made by the commercial community, who in my years of observing this particular contract have tended to be bullish on the S&Ps and had long positions. Large short positions like this have been quite rare -- and quite accurate. It would seem that they think this bear market rally does not have much further to go. Obviously, they're only human and not infallible, but it is worth noting.