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What about folding and waiting for a better hand? I would have another 10 hands before I get completely blinded out.

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You will not make the final table playing like that. Like said above CO likely does not have a premium hand. That means QJ is at least 50% chance to win. So you have a shot now, where you know you have good odds, to go to 13K. If you fold this hand and your SB, you have 3K left. So maybe you find a spot where you have a little better chnace to win, now if you double you only get like 7K. And maybe that hand doesn't come and you get your chips in with worse odds than you're getting now.