Great article. It's interesting that you state that fear is the primary driver of investment decisions in both up and down markets.

Your advice to 'exit and start over' is well taken. thanks for validating something I did recently.

In 25 years of investing, I've gone to an all cash position only twice. Both were times when I had lost all confidence in which way the market was going to move in the short run or the long run. I cashed out on 9/16/08. Needless to say, I feel MUCH better now.