I predicted DJIA to drop below 10000 about 3-4 months ago

That prediction came true today. Will market go down more and deeper? sure it may. The market could go much below today's level if our recession goes deeper. Sensing that in early this year, I warned everybody about this risk, and personally protected myself by moving all my trading portfolio into cash positions in February. This turmoil is not like the same as any turmoil we've experienced before. It's worse off than any in our memory. Last week, I talked about a "bank run" has already started in the corporate/commercial arena, the risk is tremendous. If things start to worsen from here, the risk of a general "bank run" on the wider sections of economy could ensue. Be extremely cautious out there. You may have the temptation to go "bottom" hunting. But unfortunately, we don't really know when the bottom will be. From the lessons we learned in 2000 to 2003, it took more than 24 months for the market to touch its real bottom, although many false bottoms were perceived by traders at that time. So, if we guess that the bear market officially started in January 2008, we are most probably only half way to the bottom. If that's true, more carnage will await for us in next 12 months.