look at this , page-2

28% correction - is it worth getting out What would happen if you sold now and bought at the bottom of the market?
Say you had a $1 million and $300,000 profit
Your capital gains would be about $90,000
that would leave you with $910,000
If however you stayed in the market and you didn't have to buy back in a the the bottom, your portfolio would be worth -$833,333 (-28%)
Now lets say you were going to retire in ten years time and the market grew at 6.6%, the market timer would have $1,724,302 and the long term investor would end up with $1,579,030 about $150,000
Or put it another way (6.6 % stockmarket return - 2.6 inflation = 4%) an annual living amount of $68,972 as compared to $63,160 - differance of $5,812 or about $100 a week.
So your decision now is it worth that $100. Trouble is you might get into all sorts of trouble if you miss the boat.