I agree with PadreBrian, asset allocation is the way to go.
I was mostly in cash last year, which makes up in part for missing the last few bull markets. Put a fair chunk of it into junk bond funds right after the crash, on the theory that the stupidest possible investments would be the biggest beneficiaries of government intervention. I got in just a bit early, but junk bonds turned out to be the investment of the year.
