Yes, It's a falling knife, but I get the sneaky suspicion institutions are loading up here. Tick just fell off a cliff (major index puke pt). Bounce opp? They can easily spin yesterday's numbers with some upgrades when the carnage is done. JMHO
if you bought at 11am you would have been incorrect in your assumption http://www.profitquotes.com/commodities-quotes.mpl?a=detailed&ticker=csco might get a good deal in the options market though ...
Gotta respect those support lines. Still think looking back in a month or two, this will have bounced at some point. Doesn't really matter though, once my thesis was violated and diag support was broken, it was all about exit stage left. I don't argue with it -- plan didn't work out = move on , next trade. Tick call sure called the bottom on spyders though one outta two aint' bad.