While I don't think you are far off base about what will happen, some may be better of averaging down in the dips. Selling now (possibly at a loss) and buying back after Q3 (possibly at a higher price then they have it at now) seems like they could lose money on both ends.
Q3 earnings aren't supposed to be great but that is already factored in or will be factored in shortly. With Q4 and beyond looking good it may be hard to find prices like what will occur over the next few months.
Nothing is ever "priced in" as we saw in Q2 a few days ago. Anybody who listened to the last conference call knew earnings would be weak. The stock still fell because idiots like the people on this board don't listen to conference calls. That's why I expect the stock to fall in Q3 as well.