Market correction-canary in the coal mine?

Hi and welcome back. The re-election of Obama has occurred and we are witnessing a pullback that is not unexpected. The fiscal cliff approaches but is it just a harbinger of greater tribulations to come? The market has lost 5% since 11/5. Increasing tax rates on the wealthy will probably trigger the big money to sell, causing more lowering of share prices. A recession is likely in 2013 some say. Those with significant exposure to stocks could consider raising cash by selling some of their holdings in momentum, housing and industrials. I will be leaving my core holdings as they are. My intent is to never sell them unless there is a change in the company fundamentals. The others such as F, GLW, ARNA will be considered for covered calls or will br a sell at the right price.