Ok, the way that it knows how much to load is from loading the ELF header. Are you sure that you have a good ELF file there (launcher.bin)? Use a hex editor and look for <7f>ELF as the first 4 characters.
Code:
elfview sdm636.bin /p
# Type Flags Size Offset Address
-- ------- ----- ------- ------ --------
0 null 792 000000 00000000
1 null 6856 001000 85e28000
2 load RX 356508 003000 14015000
3 load RWZ 0 05A0A0 14077000
4 load RW 40704 05A0A0 1407a000
5 load RWX 39176 063FA0 14084800
6 load RWZ 0 06D8B0 85e10000
7 load RX 7804 06D8B0 146ae000
8 load RWZ 0 06F730 146b1000
9 load RWX 100568 06F730 14098000
10 load RWZ 0 088010 146b2000
11 load RWZ 0 088010 14680000
12 load RX 77248 088010 14699000
(Sorry that's my own tool there. I don't know what else can show it.)