No. of Recommendations: 2
I just got back from a European cruise. Austerity isn't working over there any better than it is here.

Heh. From what I can see, their austerity consists mostly of saying that they'll stop spending like drunken sailors sometime in the future.

=================
Anyway, back to the OP: There are a couple of ways you can proceed. One is more-or-less the path you are on -- post frantic questions on messgae boards, read investment magazine & website headlines, and then either panic and sell out, or grimly hold on.

Another way is to somehow manage to check your emotions at the door, and delve into some non-standard education. Begin with these:
http://ssrn.com/abstract=962461
http://www.mebanefaber.com/
http://www.blackstarfunds.com/files/TheCapitalismDistributio...
http://www.blackstarfunds.com/files/Does_trendfollowing_work...

In a nutshell, use any of the common ways to (mechanically, unemotionally) determine if the market is trending up or trending down. If down, sell. If up, buy (or stay in).
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