I love ya Dave, but 401s are the stupidest thing since triangular catfish. You give up the most basic protections for your investments in the hope of getting a company match (which most companies don't offer any more) and a better tax rate (which can be changed at any time, but even now works out to be the same in practice) and in return... what?
You can't use stops. Your investment choices are VERY limited. For many people, you can't rotate out into cash until the end of the day at SOONEST, making sure it is YOU not the big boys that get burned in a crash.