Rather than being a difficult time for the individual investor because of the proliferation of hedge funds, I find the current times very favorable for the individual investor because of available information no better exemplified than by the UBS graphs and charts in Wednesday's site. Us humanoids can only deal with probabilities based on past market behaviour which is another way of saying past human behavior. We have charts and graphs to help us along. If not for these we would be dealing with no more than a coin toss. The UBS article on the current correction gives us some irrefutable evidence. In the last 3 years all U.S. corrections of any significance (none that significant) have been accompanied by Yen strength, tightening emerging market bond spreads and net emerging market selling in the U.S. Futhermore, each of them has involved some retracement before continuing to a climax. Most are ABC but early 04 seems like an ABCDE. Futhermore, the early 04 correction comes after a strong uptrend commencing in August 03 that is very similar to the recent uptrend beginning in August 06. Based on this information I believe it is fair to make the following deductions. (1) Watch the action in the Yen and Emerging Bond markets. (2) It would be surprising, albeit always possible, for this correction to be over without some retracement and some retesting or more serious damage. This is especially true because the weekly bar is the most severe of any in the last 3 years. Again, these are only probabilities based on past performance, but what else do we have? To me, it also implies that this may not be about China or Subprime Mortgages, but about a mini correction of an overheated market that needs a rest. Only if it turns into something worse would it have an economic or political root cause. More than likely it sets up a nice buying opportunity after it plays out. Just my opinion."