Anyone would have to be living in a cave to have any capital gains to take. Intel at 12 year low. GM at a 60 year low.
IMO, anyone who is selling is selling cause they finally got it through their head over the last 8 years that money invested in stocks is lost money in a con game. And so they are selling to keep whatever little they have left and taking huge losses. And I doubt if they will ever return in the stock market. Even buying houses 8 years ago would have been better than invested in stocks.