I didn't have a lot of choice about where my money went because it is all pre tax. To do anything differently would have been crazy. My IRA and my other investments have really taken a hit. I just hope that eventually the market will come back (it always has) and that my money will return to it's former amounts.
Just in case you don’t know — one has a lot of flexibility with IRA funds, if you place them with the right broker or mutual fund family. For example, mine were in a bear fund, now in a currency/gold fund. Could even be in a long or short exchange traded fund (ETF). I’m not recommending these exact choices for anyone else, but there are actually few very restrictions other than margin or short brokerage accounts (I think).