Since 2002, there hasn't been one of these big market down days. It is long overdue, and if it happened this week, it would crush a ton of longs. There are so many put seller hedge funds and dip buying retail traders that it would definitely clear out the landscape of the overoptimistic. The bull market lasted for 5 years, the bear has returned. Its not going away in 2 months like '98, that's a fantasy. Its going to be one of those long drawn out bear market that just wears people out until they get sick of investing in stocks.