Now is the time to be more careful with your money than probably ever before. What looks like a market that will go up, might not. It could have a short term rally. It could also fall a lot from here. There is plenty of precedent. The Obama lift could be factored in already.
Slope of Hope (slopeofhope.com) says the Dow could fall to 5500 (yikes!) and Nouriel Roubini (http://www.rgemonitor.com/blog/roubini/) is saying that these are extraordinarily dangerous times. The market could fall further. Just saying. I would prefer to see it go up.
Those who are buying in now should have at least a five to ten year time horizon, because by then share prices will likely be up. But which stocks will be the winners? Substantial, easily understandable, brand name stocks. My last post has some ideas.
While stock buyers can move around more nimbly in the stock market than big funds, most individuals haven't got a hope of the preferential treatment that Warren Buffett is getting.
Here is an article with more on that: