Over the last couple months I have spent a lot of time monitoring and adjusting our investments as the market has been so volitile and uncertain.
I trimmed back on anything financial or related to financial. For example I sold positions in Goldman Sachs, Morgan Stanley and Discover. I also reduced or sold some positions that have appreciated a lot and where the companies are really over-valued at this time, over-valued stocks are most likely to be knocked down. If this happens with some stocks we hold, I will most likely be a buyer again once they are at under-valued price.
I would suggest now is a good time to be more defensive. Stocks like Berskhire Hathaway, Pepsi, Johnson and Johnson, Proctor and Gamble, etc. are good and safe investments right now. Silver is also a good bet with the rapidly declining dollar over the last few months.
Full Disclosure: I own shares of Pepsi, Berkshire Hathaway and I hold investments in bullion silver.