Last week, the market dropped more than 5 percent and closed at 1,957.65, its lowest level in nine months.
"It's set up so you won't get out or even stop putting your money in when the market temporarily drops."
Ask yourself, "what will I do when the market drops?"
I was lucky enough to lose my nerve and get out before the market dropped.
"I was happy for a while and then it broke my heart" when the market dropped in the fall of 1989, he said.
The market dropped 33 points in 10 minutes, but then quickly recovered.
But if the market moves up or drops sharply, they can be large.
Small stocks even held up well the last three weeks, as the broad market dropped about 5 percent.
The market has dropped 7.6 percent since hitting its recent peak about 10 days ago.
"But Republicans may need to see markets drop 400 points."