You could be right, but after clearing out those people the market would inevitably take time to recover. Even the most ardent of believers will have their doubts at times and their confidence will have taken a knock with all of the price dips. I know that I am personally less bullish than this time 1 year ago. At that point I was aware a price dip was coming but not when, but I did think the price action was a sign of long-term bullishness. I am still bullish now but a year with little good news takes its toll.