To be honest chances are the sub $350 are probably still a ways away. Even though the market has had a somewhat downwards trend over the past few weeks I doubt there are people who are not going to set up a buywall at $550, unless something pushes the market further downwards than it would if it was on a normal and natural trend. Basically news will decide where the value will go, and so the market is waiting for said news to unmask itself.