We have no way of knowing when the bottom will be reached, only time and price can make that determination. If you've already taken a big hit and don't plan to lock the lose, then a good way out is to lower the cost per share. This way when you get back to the same levels as before your lose, you have more money than before.
The ones who took the biggest hit in 2008 were those who got out after a big loss, than waited too long to get back in. Meanwhile those who stayed in and accumulated more shares actually recovered faster than those who attempted to time the market. Buy & Hold (DCA) requires discipline, it's scary but if it's applied correctly it is an excellent strategy.
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