where is it heading????

Is this the correction we had to have or the beginning of something more serious????

Like rats atm, I have tried to hold most of my stocks in the face of this sustained sell down thinking it must reverse sooner rather than later but I have the memory of doing the same in the teck debarcle so I have sold half of everthing today and most have kept falling since, think the rest may have to go as insurance, not looking nice at all.

No doubt the old rule will apply, soon as I clear the decks the storm will clear, nothing surer.

Trouble is I can't find any real reason to support the crash theory, things like FMG and FCN with no earnings and inflated SP will no doubt be left floundering and they have hurt the market but the resource demand is there and the US market is not leading this correction, in fact our dollar falling should have the opposite effect on resource export earnings and the oil price is not dropping so I tend to believe the easter sell down has been exagerated by the herd mentality & stop loss trading.

Whats the opinion of the experienced HCerites who were trading during the teck days, is this heading the same way or is the worst behind us????