Us little guys gotta follow the big boys...huge sell offs in record volume going on after an upbeat market for the past few years. if you hold anything that's given you a nice chunk of return, sell it and lock your profit (this is not the time to be greedy) and then stay on the sidelines and watch for at least 2 -3 more weeks before you think about jumping back in. or if your stocks haven't yet matured and you are not in a position to sell it, don't panic and try to ride out the strom. so for your long term investment, this correction is healthy for the market so no need to worry. keep an eye out for great deals on value stocks but don't jump into buying it untill it's on its way up...much better that way than buying when you thought it had bottom when it goes down a few more points....at least this is the strategy i'm playing by....i think we'll all be better off in 2 -3 months from now than we were 2-3 months ago. don't be bothered about 401K or mutual funds...you're gonna be fine with that unless we have a total market crash...which aint happening. bhunte; good luck with your options. i've never done them before but finally feel like i know enough to try them but just don't feel comfortable in trying right now. so, for others like me it might look like the way to make money even on a down market but i'd really think twice about it..same with going short. p.s. last but not the least don't be hatin on them china stocks!!