Would tend to agree with "therightstuff" although not quite so vociferously. I would not yet get into any stock funds although judicious short term trading of solid stocks that pay dividends seems reasonable(the more the volatility the better the opportunity). However buying a stock fund is the ultimate buy and hold and I fear we are in for more bad news and would wait at least another full quarter. At least that's what I'm doing. I have bought a small postion in BAC and GE but intend to trade at first oportunity. I also have some PTTRX but that is because its one of the limited options within my 401k plan. Y'all might want to look at NRF-PB and NRF-PA or the NRF common. Looks a lot riskier than it is. Make sure to do your own DD.Good luck longs.
Keep out of the stocks. You can't make any money in them unless you are a day trader. Junk bonds offer consistent yield despite all the talk about defaults (it won't happen). Buy junk now and you will get a nice 9.45% return plus there is going to be huge upside appreciation in the nav over the next year!!!!