Trying to Find A bottom??????

Trying to find a bottom can be like trying to catch a falling knife. that is the way my weekend trade worked out. I bought 1 Rimm Jan 08 $80 call for $7.70. I was sure the stock would see a bounce trading at $71 dollars a share but O' how wrong I was. The market fell another -777 points and rimm fell to $61 dollars a share. I know when it was time to go so I sold with a stoke price at $64 and a call price $6.20 so with commissions and all I am down about $180. this just adds to the point iv been making all along if I am going to have a open market position it has to be hedged. I'm done with picking directions. My move for this market is a straddle or a strangle.Also don't trade against the trend if the market is going down go short or buy puts with some small call insurance. I just entered a APPL straddle trade so I will update tonight.