I'm generally defensive now and agree with you on my major stuff like 401k's and college plans. Very diversified and increased cash holdings a few weeks ago thinking we were due for a selloff and oil was so darn high which drives inflation. My investing play money has multiplied thanks to a few good really good bets (VVUS, CMXI) and I'm in rotation mode now moving some profits into new plays like MAKO. I'm watching MAPP for an entry point over the next 6 months because I think that will get approved within 18 months. I'm trying to invest in companies that I really think have something radically different, better, that address huge markets, and have major catalysts. So the general market doesn't really matter with these. I'm picking these companies to hold for long term (5+ years) because I'm usually guilty of selling great companies too soon. I will now only rotate profits and keep my initial investment. Hpefully MNKD will eventually be there. Example...I sold Chipolte at 115 a few years ago after buying at 48 thinking this was the next MCD or Starbucks. I was right but now it is 400 ... augh!

Have a good weekend.