User blog comment:Miskos3/Fairy Tail Episode 175: Natsu vs. The Two Dragons, Review/@comment-1784397-20130330064049/@comment-7405046-20130330105447

I think it originally meant "I will always be watching over you, wherever you are, even if I can't see you right now", but it was supposed to be used when the other person could see it from afar, not when you're sitting on a bed or speaking face to face.

Also, it was a sign meant for Laxus and connected to an event in his childhood. Making it a general sign for the guild kinda takes its meaning away.