I had a look a chart back from 1985 and the 1987 crash basically is the only comparison as far big drops chart wise.
The all ords have dropped a bucket load.
Where is the bottom is anyones guess but for those who dont know the All ords in 1987 went back to the previous support level at the start of the 1986 run.
The start of 2005 run was in November and that was around 4800.
So it is possible that we still have one or two big days of carnage, a drop below 4800 level and your looking 4000.
Something just tells me we have not hit bottom, by the way the stocks didn't close on their highs today, and a number of stocks still in free fall closing on lows.
Its not a pretty place to be at the moment.
I think a lot of short sellers got squeezed out though with the bounce but the fall could still continue.