Summary:
Market Corrections can be good for the wallet! Corrections are part of the normal "shock market" menu, and can be brought about by either bad news or good news. If you don't love corrections (and deal with them like visiting relatives) you really don't understand the financial markets. Don't be insulted, it seems as though very few financial professionals want you to see it this way.
During every correction, I encourage investors to avoid the destructive inertia that results from trying to determine: "How low can we go?" and/or "How long will this last?" Investors who add to their portfolios during downturns invariably experience higher values during the next advance. Yes, Virginia, just as certainly as there is a Santa Claus, there is another market advance in our future.
Corrections are part of the normal "shock market" menu, and can be brought about by either bad news or good news. (Yes, that's what I meant to say.) Investors always over-analyze when prices are weak and lose their common sense when prices are high, thus perpetuating the "buy high, sell low" Wall Street line dance. Waiting for the perfect moment to jump into a falling market is as foolish a strategy as taking losses on investment grade companies and holding cash.
Repetition is good for the brain's CPU, so forgive me for reinforcing what I've said in the face of every correction since 1979