I managed to trade myself down to a cost base on this thing of just under $255. Thats a good enough base for a long hold, and gives a reasonable buffer if things continue downhill. Now I'm at about a p/e of 18 on next years earnings.
The stock seemed to crash to 280 on rough days a few weeks ago. Seems more inclined to hold around 286-288 now - but then again tomorrow might trash that theory in a hurry.