Swashplate:-
The problem with your suggestion would be inadvertantly switching the gear "OFF" when trying to retract! That would cause the hydraulics to be turned off, and the gear to stick in its present position.
(I assume.)
I can honestly say that the situation has never presented itself, to my knowledge, on my type. (B757/767.) There is a detent at ;
UP.
OFF.
DOWN.
You have to lift the lever into it, so it would have to be a definate move to put it from UP to DOWN, bypassing OFF! Perhaps its slightly easier to do on the B737. Also I believe that the only "NEW" Boeings that doesn't have this setup is the B777 and the B767-400.
Eff Oh.