I know this because just about every long is ready to throw in the towel. That is the psychology of Wall Street. They beat you down relentlessly day after day so your morale is so low they can acquire your shares cheaply. They are able to make even the greatest companies appear weak and inept. The negativity surrounding a company making billions in profits is something I havnt seen in a long time if ever. When it gets this bad the bottom is near if not in
Well lets look at this a year from now. What you will see is talk about how they wished they sold at 460 just as now the reference is 705. We are down not quite 50% from there now and a year from now we will $245 - $280. So in the loner run this more like a top than a bottom.