It will be a difficult year

The last eight months have been wonderful, but the stock market is now fully valued.  It will be very hard to make money in the market this year.  For the last three weeks I have been selling and am now about 40% cash and 5% short.  Even though I know that a correction is coming (in fact it's here) I am holding on to a few growth stocks that I think are good for the long run (Apple and Google) and stocks that are still undervalued (e. g. Berkshire class B).

I will reinvest the cash in very conservative, dividend paying, stocks and bonds.  But I am in no hurry.