Regal,
The question is: do you get out now and wait for the next cataclysmic market event to unfold before re-entering or do you wait it out?
A prudent capital management approach would suggest you cash out, then re-enter if you think there will be more "blood on the street".
Each to their own - my strategy has been to lighten my holdings over the last few months and not look to re-purchase any more stock until we have a clear signal we have hit the nadir. I'm not convinced the bottom is in just yet.
Today will be fascinating to watch as we have seen some mixed signals the last few weeks. Some opportunists may see this as the time to make a play, other more conservative players may look to stay on the sidelines, whilst the heavily leveraged players may have no choice at all and have to bail out.
These are interesting times!!!