We should trust our experience in trading even though the situations got worst, and I don't think panic selling is the solution. What will happen to your future profit if you sell it all due to you're panicked? That's why we should stay stronger and keep the faith burning so we could stand against negative speculators.
This is not true all time my friend but I respect your opinion. Your action will depend if you are trader or long term investor. The logical thing to do if you are trader during sudden drop of price is to cut loss and try another trade in other day. While if you are long term investor this kind of drop is nothing to worry since you are looking at the 2-3 years perspective.