Yes. Seeing a big institutional buyer like Vanguard buying does not mean it "knows" anything. These guys offer index and sector funds and must buy (and sell) shares to maintain them. It's just like the gnashing teeth over market maker activity. Market makers serve the broker/dealer (including my broker and yours), and some of them are part of a broker firm themselves. They're processing customer orders. As much as people want to confirm their world view of a manipulative villain in the market, the truth is much more simple and parochial. Markets are volatile.