How to take advantage if this is a correction

A market correction is on the cards, and like all corrections before it, this one may be sharp but brief (anything from 1 week to 1 month). The previous correction prior to the World Cup in 2006 took 5 weeks.

The fundamental reasons for the correction are:

1. Goldman's investigations;
2. Chinese policies to curb an ovrheating property market;
3. Most importantly, an overbought market

However, the market is still on a firm uptrend because (taken from Louis Nevallier's newsletter who proved accurate during the 2006 correction):

1. A clear business recovery is gaining momentum.
2. The sideline money is flowing back into the market—and in a big way.
3. The massive layoffs the press has been predicting are not materializing.
4. Manufacturing is expanding and triggering a boost in consumer confidence.
5. The housing market is clearly recovering, too!
6. Only 16% of the Fed stimulus money has been spent to date.
7. The FED is turning extremely positive, too.
8. iShares, Vanguard Funds, Fidelity, T. Rowe Price, Barclays, Vanguard, State Street, Janus Fund and dozens of many, many other top-rated mutual funds and institutional investors have plunked down billions of dollars on our top rated blue chips—all in anticipation of the 2nd-quarter profit surge that’s headed their way.

I will be looking at some stocks:
US: Novagold
Singapore: Sembcorp, NOL and Cosco.

To buy when technical picture improves (Fib + candle + Stochastics/ RSI).

My current holdings: Leave them alone unless my protective stop gets hit.