The ‘mechanical’ buy triggered on Thursday when TLT fell to the green line (x=93.40) is looking like hell at the moment, with the steep fall over the last two weeks showing no sign of abating.  However, ‘mechanical’ entries are never supposed to feel warm and fuzzy, since they are designed to exploit the vicious shakeouts that can occur when overly eager buyers get too far ahead of themselves. All we can do now is wait and see whether TLT takes a one-level bounce to the red line without exceeding C=92.01 to the downside.