Yeah, that's the meaning of it.The lowest possible level or absolute bottom:
- Prices have hit rock bottom.
- The morale of prison officers is at rock bottom. The president's opinion poll ratings have hit rock bottom.Also
: If you are at rock bottom, you are the most unhappy you have ever been in your life.
- I'd never felt so depressed in my life I was at rock bottom - so I started drinking.
- After Carly left me I hit rock bottom.References:http://www.thefreedictionary.com/Rock+Bottomhttp://idioms.thefreedictionary.com/rock+bottom