This is why my money is in cash. Yes, there is inflation and yes, the return is low but once earning reports start coming out in after July 1st for Q4 then in October for Q4 I see a Dow around 10,000 and a NASDAQ under 2,000.
However, a nice rebound is possible later next year and I will likely start to go back into the market then.
There may be, in my view, some bear market rally's in the next few years, but I'm not expecting a serious bull market to begin until either 2012 or 2016.