Soronoros, Made some good points, read what you can and cannot do as far as moving things around. The beatings have been far reaching, all sectors have been given a shave,
so to say. If you move to the safety of cash now, you lock in the beating you took. One can only hope that there is little downside left. The pros are pros for a reason, the good ones know how to read many signs in the market place, unfortunately after bear stearns collapsed, few people understood how big of a deal it was.
School yourself, there are a lot of sites on the internet, that explain how investing is supposed to work.
Good luck!