If you had moved some funds from a variable account to a fixed income account when the market was stronger, you, in effect, sold at the peak.
If you move money now from a variable account to a fixed income account, you are selling at a reduced price which may reduce termporary risk but precludes going along for the ride if the market turns up.
My 401k advisor had me sell shares in two small-cap funds very early this year and put them in fixed income accounts, however later on in the spring he advised me to allocate some of my current contributions toward the purchase of the same small cap funds. WHY? Because I am buying the same shares cheaply that I sold earlier in the year for a profit.
You can not ever accurately time the market. No one, not even the best stock pickers, gamblers, hedge-fund hotshots, connivers, pension managers, no one can time the ups and downs of the market.
You can gauge trends and go with a gut feel but the overall best plan is to invest steadily and conservatively and not go in and out every day .
SRM