Deleveraging

Today's market action shows that the deleveraging of the hedge funds is still happening. This deleveraging seems to me to have spread from more speculative crack-up-boom plays to less speculative stocks, such as PWE and TSO. Does this mean that the bottom will be in soon? Or does it mean that the spread will force further deleveraging? In my mind that is getting more likely. But we shall see. I consider myself very lucky to have delevered with my sales today with a 0.5% loss. On the other hand, I want to kick myself for not cashing in big-time here.