Time to concentrate on dividend stocks (5%+ yield) in large caps for a LONG investment. Just don't put all your money in now or at once, due to volatility. Put a chunk in every time it falls if you are in for longer then 5 (10) years.
If you need the money soon, do bonds/muni bonds around 5% yield.
For me, I'm just pumping cash every paycheck into sectors I feel have long term growth and survival(mutual funds that are large cap or mid cap). In 2 years I recommend investing in small caps when a recovery does start...unless it gets really bad then just wait til the recovery to invest in small caps.
I'm avoiding individual stocks save my companies which I put a small share in but they match me 20%. That stock has to drop a lot to not make up that 20% over the long term. Plus we are doing a tad better then expected as we have been told we are still on track to get our end of year bonuses due to performance Sorry can't tell you who I work for.
Remember even after the depression which went on for a long ass time to recover equity value, if you kept buying when its was low and had 30 years to play with it, you would've made out like a bandit...