Tim - As a follow-up to your question, suppose I was convinced over the past weekend by this thread to sell some equity in this down market to reduce my risk. Suppose I decided, that while I believe in the investment, the Vanguard REIT Fund presented the most risk and sold on Monday. I see today it's up by a whopping 6.6% (not supposing here, it actually was). Now how am I feeling? Not good I assure you. And more importantly, what do I do now? Is it a given that I can just wait for it to drop 7%+ to buy back in and avoid saying "I sold at a loss"? Or is that more in the "hope" category? Did I take a gamble by selling to begin with?

Jerry