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Default Conditional Colors in a CELL

Fellow Forum Members,
Is it possible to make EXCEL 2007 automatically color a cell as RED when I
type in the word "SHORT" into a cell in column A or color a cell as BLUE
when I type in the word "LONG" in a cell in column A? If this is possible
can anyone give me some tips on how to accomplish such a task? Thanks in
advance.
 
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