You are much too emotional, WRB630. BEN turned $1,000 into $1,000,000 during the great bull market of the '80s - '90's (it took 18 years). Read Doug Kass' 15 surprises for 2012. After the expected volitility of the next several quarters, I believe he expects BEN to head toward a double.
Consider risk-control strategies: There are different ways to control for risk. Sell 100%, sell 50%, sell 10% of your position. Buy inverse ETFs which may have a chance of balancing out market drops. Hold small positions in a ROTH IRA, which positions you do not look at for 10-20 years, etc.
BEN, EV, TROW have done exceedingly well over time.