chris fords - rotten dog thursday, page-209

stockplaya, I tend to agree with your view that the market is still short stock and long cash. I think the key to understanding that this is so is in the reasons why people sold stock on the way down in the first place. It wasn't because of corporate losses, it was because of the perception that we would have a GFC mark 2 that would be equal or worse than GFC mark 1, thanks to various hysterical news headline grabbers.
Corporate profits are actually not bad, (not withstanding a dodgy earnings patch for the last quarter from investment banks).

I think we are in for a period of looking at the glass being half full rather than half empty. And I know that wont sit comfortably with TA, but hey, that's what makes a market :)