By Philip Elmer-DeWitt
August 19, 2013

FORTUNE — Is it time to visit, once again, our favorite Jason Schwarz’s quote?

“If you can keep a good stock down then you are able to load up for the ride back up. It’s like a slingshot — the harder you pull, the more propulsion you generate.”  — Apple: Seven reasons shorts love it

Perhaps not. We’ve been wrong before. See our slingshot post from Dec. 6, 2012, when the stock plummeted $37.06 (6.4%) — its worst one-day drop in four years — and bounded right back before the close of trading.

What we couldn’t know eight months ago was that Apple’s share price would fall all the way to $385.10 before it began a recovery that was — as the chart above shows — anything but steady.

See also: Apple’s bungee jumping June quarter: Who bought, who sold.

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