I don't know what he was saying either. Perhaps he doesn't know what he's saying either. He's very old.
Perhaps, though, he's suggesting that anyone who's going to get shaken out is being shaken out and this marks a bottom.
Looks to me that 40-60,000 got taken out by, most likely, stops at $60. That's not very many shares when you think about it. They couldn't keep it going that direction very long.
Seems to me that any good news would take the price way up way fast.
I think this is a good time to buy, but, hey, I could be wrong.