aelb briefing, page-152

vincenski - you're right in one sense, that when it's all doom and gloom, often things will turn around, but I think any pump to higher levels from here will just be shorters reloading, running the stops of amateur shorts and parking bulls (if they're not parked already) at higher levels for a smooth ride down. Seriously, can anyone say they're actually gonna buy the open? If you've been shaken out, you're probably waiting patiently for a 70-something entry (where you were shaken out), but what happens when the SP starts to run north above our broken support, oh no I'm gonna miss out, buy back in, then the SP crashes and you either get parked above out the way for the smooth short ride down or you sell and add your 2c to the avalanche. A break of major support is a big deal, we've already backtested it from below today, if it goes back above support, I'll be quite surprised if it stays above support for long. A TOL announcement would obviously provide a cause for a decent little rally, but there's so much technical damage to the charts right now and let's face it, this whole TOL promise has turned all the longs into worms on sticks, can't sell because the TOL is gonna rescue me, gotta hold and hope and talk about $4 parties and post pictures of rockets.