"The only thing I'm doing now is re-evaluating my asset allocation to consider what percentages would have let me sleep better. Slowly, I may re-balance if the market ever stabilizes."
A couple of weeks ago, Super Saver mentioned an interesting (and kind of depressing) point:
"Unfortunately, I invested some cash in my retirement account right near the market peak in 2007. Back then I thought, the market is always up in 10 years. Of course, 2008 marked the end of the first 10 year period that wasn't true since the depression :-("
(Actually, it has happened again since the depression, from 1965 to 1975), but it's true. If you had invested $1,000 in an S&P 500 Index Fund at the end of 1998, you would now have roughly the same $1,000 today after holding it for 10 years. (This is a bit of an oversimplification, you would really have a bit more from dividends, but you get how sad that is.)