Timetraveller: Since 2002, there have been numerous times that the market has gone down 8-10% from their high and they have rebounded well. But the trick is to figure out whether that 10% decline is part of a corrrection in an uptrend or the reversal in the trend. That's where junk-bonds come into play. But I'll discuss my exit strategies later where you'll find that you'll get out before the big decline starts.