The Move to Cash....wise, too late, or too little too late?

Well, I emailed my financial planner and asked him to move everything to cash. Yup....the Fanny Mae / Freddie Mac situation is glowing hot and things are not looking up in the general investment environment.

The market is lip sliding away.....stocks and bonds seem to be eroding as I watch.

So I'm at the point where I'm trying to decide what to do...but I just feel I have to stop the bleeding!

Is this a bad time to fall out, I suppose there is always a potential problem of selling low, buying high.....but I don't think this is the bottom.