In case you were not listening, there was a very loud boom from Wall Street today as Bear Stearns reached out for help from The Federal Reserve and JPMorgan. We won't bore you with the details, but we will pose the question, "what do you do when the other shoe drops and panic begins to take over?" Run. Stay put. Pray? The short answer is to try to keep your cool. However, since we are already jittery from a very rocky 2008, keeping cool is much easier said than done.

As you attempt to stay calm, some insight into investor psychology may help soothe your nerves and clear your mind. A recent MSN article by Richard Conniff about how fear can make you lose millions, speaks to how a little fear is healthy, but too much fear can be disastrous in the end. Another similar article from Investopedia on fear and greed offers cautionary advice based on previous bubbles and crashes.

After gaining a little perspective your feelings of fear may subside and be replaced with thoughts of the future and what you can do to prepare yourself, and your portfolio, for the long haul. This is possibly the best advice in both up and down markets.