Flatten your positions if you are going to arbitrate. This is a delicate area and the procedures should be reviewed with someone familiar with your case. The tendency here is to hang out while other preparations are being made. The market's going up, down, it'll come back, breaking even. All that.

Don't do it. It's advisable to stop the clock on the problems. So after your review, take some productive action:

Sell it. Cover it. Short against the box it. Liquidate positions, reducing risk to as close to zero as possible. Disown portions of the portfolio where necessary. While feeling uneasy about this initially, it will be a distinct plus later.

To repeat, operate at this juncture under advice only.