As an example of what happens when people don't care much about valuations and are more concerned with selling because the market is selling (this is called market or systematic risk...which is inherent in all portfolio's)...

Today this was released from Pfizer:

http://www.washingtonpost.com/business/industries/drugmaker-pfizer-raises-quarterly-dividend-10-percent-to-22-cents-expands-stock-buyback-plan/2011/12/12/gIQAjzRspO_story.html

They are increasing their dividend 10% and planning a $10 Billion buyback...guess what, stock down 1.5%. On any other normal market, this would get you a ridiculous upswing. Just the way it is when markets are like this. Not reflective of the company, but just a part of being listed on a exchange!