It is always that great bull opens the door to crash everything and everyone down in the market. It is a recurrent matter and everyone if knowing the history of the market enough. In the great bull market, such as those in 1920s, 1950s, 1990s, and 2007, there were relatively little distinction was drawn between industry leaders and other listed issues. It was the time that all of genius and bums made some moneys. In the bull, the crowd felt that everything was strong enough to weather storms and that it had a better chance for really spectacular expansion than one that was already of major dimensions. The depression years, however, had a particularly devastating impact on the companies below the first rank either in size or in inherent stability. As a result of that experience market players have since developed a pronounced preference for things which look safe and a corresponding lack of interest most of the time in the stock market. This has meant that most of dirty cheap or blue chip have usually sold at much lower prices in relation to earnings and assets than have the former. It has meant further that in many instances the price has fallen so low as to establish the issue in the bargain class. *** What happen after all in the ruins. Market players tend to be extreme cautious. The typical reactions of the market are: 1. Good news is bad news 2. Bad news is the sign to close the door 3. Excellent news is so so. When the crowd feels hopeless, bargain hunters become the last things to be consumed by the market, which has all of the features of contrition war. Most of market players rejected any stocks, even though all has been sold at quite low prices. In each forum, all you could read are words which are used to express a belief or fear that the market would have only a dismal future. Everyone is so dismal that only the words about what is the worst in future could be found. *** In fact, at least subconsciously, most of market players believe any price was too high for them. The reason is simple since they believe that all of stocks in the market were heading for extinction or would drop down further. Market crowd tends to go extreme just as in 2007/2008 before the GFC, it believed that the emerging economies are disconnected with the advanced world and BRIC could drive the world even no advanced economies. That was the reason when resource shares could stay at peak even on Sept 2008 until the global financial system seemed crash down to ground. Both of these euphoria and depression were exaggerations and were productive of serious errors in the market playing. Actually, the things are not worse or better than the market crowd expects. It is the vicissitudes characteristic of our economy and market but if the sky is there, the economies have to expand and bring a fair return as that in normal economic conditions. It is all about recursion to means.