In a 401k where one can only long mutual funds, has anyone thought of a strategy to protect oneself from a down market? For example the vast majority (and 100% that my Company allows me to purchase via my plan) of mutual funds followed the market and lost big in 00 and 01. My two holding are Vanguard 500 Index and Fidelity Low Price Stock fund. Two things I'm thinking through are: 1. Simply exit (move to cash) when the S&P 500 breaks its 200 ma line and begin new weekly contributions when breaks above the 50 ma, and finally put remaining lump sum when it breaks above the 200. 2. Purchase put option(s) on S&P futures. Objective - capital preservation while obtaining as close to overall market return as possible. I know this is probably below most ET member's expertise, but I really appreciate those that would consider providing some direction. Thanks much.