As stocks and exchange traded funds (ETFs) tumbled on Wall Street on Tuesday, the phone calls began in Orange County financial managers’ offices. The question on everyone’s lips was, "Now what?"

Mary Ann Milbourne for OC Register polled Orange County financial advisors and got the scoop.

In summary, if you sell now, you may be getting out at the bottom, but it could get worse. Take a piece off the table, especially in your more volatile positions. Global Trends Investments (our management company) has had a large cash position since early December as most major market indicators and their corresponding ETFs have hit their sell points.

Setting stop-loss points for equity positions, either 8% off the recent high or if the holding declines below its 200-day moving average. Currently, this puts most funds in a sell mode. In an effort to not sell at the bottom, consider selling one-third of equity holdings and buy when the stock goes back up above its 200-day moving average.