Stock Market Correction

This was the CNBC TV screen this afternoon as the market closed. We knew it was coming after having gone up at unprecedented rates during the past 15 months and extending the bull market far beyond expectations. I have been involved with equities at a very modest level since an MPA course and investment clubs. I got involved with Internet trading 20 years ago and have been a TD Ameritrade customer since 2001. One of the first things I learned was: "to never invest money in the stock market that you can't afford to lose". We also learned early of the benefits of being able to pass appreciated stock on to 501 (c) (3) organizations which we wished to support. At one time I used the strategy of selling any stock after a 10% loss or 10% gain. I still sell and take losses if necessary at the end of each calendar year for tax purposes. But am inclined to hold stocks as long as they appear to be good investments. Value Line is one of my important sources of information and recommendations. I keep score of my decisions, and over the years have made more mistakes in selling (too soon) than I have in buying. I rationalize some of my selling mistakes with the old addage that "you never go broke taking a profit". In anticipation of this day coming, I reduced my inventory before the end of the year, sold some more in early January, sold 2 more early yesterday and all but closed out my Ameritrade Portfolio early today. My guess is that I can buy back some of my favorites in a few months for less that than the price at which they were sold.