How many cheapies do you really think you would have got your hands on? Low volume is just as much a factor as fear, uncertainty & doubt. I am not sure how many you would have liked to recycle, but I would be surprised if you could have done more than a few 100k and probably only between .008 and .0068 for averages. That is a net yield of $120 less $15 commissions per 100k , or net $105. Sounds like a lot of work and risk $100. Back then, we weren't (and still aren't) certain the Q1 & Q2 were eminent.
No, I think you did the right thing holding.
Running a business (and a portfolio) is like running a marathon. You are bound to get hurt if you focus on what is behind you!
GLtUA. Ck