If you know what is going on you can make much better decisions
The flip side of that is that if you think you know what is going on, but actually don't know what is going on, then you are liable to make much worse decisions.
Bitstamp is $150 higher than that, making it look not much like a nose-dive. And yes, as we've seen in the past, normalizing usually does require a double-bottom on some major exchange. The bottom is $520 - that's $57. We still need to visit the new $61. That's what we're in the process of doing. That's the high $500s, ON STAMP, not gox. Gox could easily see $400 again.
If I am not mistaken, Bitstamp did spike down to $530 and has since struggled to get and stay back up it its previous $700 trending range.