Many investors fail to understand all investments are a constantly changing risk/reward calculation. With all the problems in Europe, I believe there is little chance of a big move up in the stock market. Furthermore, I believe there is a real chance of another 10% correction. Bottom Line: I am trimming my investments in stocks and building cash for a time when I think there are good buying opportunities.
Note, any fixed income investments should be of short duration (Less than 3 years) as interest rates are going to rise.