A few years ago, I was flying from SNA to F70. I was with another pilot in a 152 traveling 090 at 5500 feet. ATC calls and says "Cessna 123, traffic 12 o'clock, 5 miles, west bound, 5500 feet" We looked for about 10 seconds and told ATC "No Contact'. ATC then said " CESSNA 123, IF NO CONTACT TURN LEFT IMMEDIATELY!!!!!!!" I did so and a Cirrus passed beneath my right wing. According to my friend, the other pilots eyes were blue.
I have known four people to die in mid-airs, so this experience haunts me to this day. Keep those eyes peeled. Fly safe.