Im not rationalizing anything. This is ridiculously oversold, RSI is about 20. If you think its going lower maybe you should short it. The forward P/E is getting close to single digits. The whole sector has been out of favor since HC reform, but ABT is still a buy IMO. Wait until the bernanke bubble pops, the whole market will be fleeing into pharma with its relative stable earnings and juicy dividends.