Zeev...you have to understand where hes coming from. If you read the messages from that nitwit Jeff on his thread on SI, you'll understand where these doomsday and end of the world scenerios are coming from. Its actually quite entertaining and funny. This nitwit Jeff keeps saying "well....i feel sorry for the guy and the folks who blindlessly follow him (Zeev)..... just shows how lazy some are to not take the time to learn a little t/a....."
What this nutcase doesn't realize that its not falling because of some broken chart patterns and /or failures, its falling because of a fundamentally and news driven market. I'm the most T&A guy out there trading and it aint because of the charts. People are scared shitless to buy because of the economy and the uncertainty of the direction. Technical analysis helps me in my intraday trading, but overnight its gotten to the point where I don't trust it...in this market.
Anyway...just thought you would find it interesting where this viewpoint is coming from. Its quite entertaining reading the messages there. You woulda thought they had discovered the cure to cancer the way they coodle themselves.