No-one has so far mentioned that easy staff have only been able since November 2002, to sell their shares. Since these shares are still quite a bit above the buy price in 2000, it isn't surprising that a bulk sale is taking place.
This in turn influences other holders of course. I think that the buyers of cheap shares will continue to sell, while the trend is downwards - buyers at a higher price will probably weather the storm and hang on. If that surmise is correct then there should be a bottoming out in a month or so...