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I am holding inverse ETFs - DOG, DXD, EUO, EPV, SH, SDS, SEF and a couple of other similar. The first two are short plays on the Dow. The next two are short the Euro currency and the EU markets. The next two are short the S&P 500 and finally, the last is short financials.

All of them are doing VERY well, offsetting most of my losses in tech sector stocks. I got out of my favorite dividend cows (MLPs and Oil Trusts) in November.

I bought a small stake in SLV this morning. (Fingers crossed)

“Gulp. I have a significant amount of my savings in the markets. Iâ€™m a long-term investor, so Iâ€™m not about to sell low right now... hope I donâ€™t regret that.”

I made a mistake panic selling once ... ONCE! :-). It won’t happen again. I preserved my contributions, but I pissed away a lot of potential earnings (to the tune of 15%).

I’m a bit over 40 now so I have to start thinking about a percentage to keep “safe”, but staying out for too long in 2009 was stupid ... if you are in your 30s, you shouldn’t be thinking such things ... you’re gambling if you do that! Just keep the investments in the long term category and only monitor them occasionally. Keep on contributing too ... you’re in the buy low cycle of your 401K right now.

Another thing to keep in mind ... if the doom predictions are correct and the economy collapses, your 401K and retirement savings will be the last thing on your mind ... chances are you’d lose it even if you went all cash.

One final thing, it never hurts to be prepared by stocking up on items to get you through a couple of weeks of hardships. I am not talking about purchasing a former ICBM bunker (though I’d love one) and hoping for the end of the world so that you can tell all 1,000 survivors “I told you so” ... I’m just talking about being prudent ... a couple weeks of food, water, defense, and other items gives you a decent piece of mind. While I’m in the camp that feels there is no immediate danger, I flat out admit that I don’t know everything :-).