It may be wrong at the moment to liquidate the hedge (GLD or TLT) as for example TLT was trading last Wednesday 5% below the value of it’s assets. This at least should recover once liquidity comes back to the markets.
In the forums I was telling that “I personally” close all my positions several times as it makes not sense to try to make money if volatilities of stocks, gold and treasuries are at these levels, however we are just not allowed by law to give a financial advice in an email like telling our subscriber to close their accounts. I can only reply to forum questions and tell what I do and I think.