tuesday, page-13

re: further congestion ? in s&p chart If the "short position on the S&P" is so obvious to all the Joe Public readers of trading newsletters at the moment, why then are the E-Mini S&P500 Commitment of Traders figures currently reading:

Small Investors.....
Long 319,460
Short 35,629

Commercial Investors.....
Long 114,620
Short 344,961

ie 10 longs for every short for Joe Public versus 3 shorts for every long for the Instos!! I would think that Joe Public will bail out well before the Instos and hence the greatest risk remains for those holding long positions.

Regards,

Jaysee