Subject: Re: Timing indicators
What is a 70 year old retiree in relative good health supposed to do?

One of Ben Graham's later suggestions was to always be between 25% and 75% in stocks, if I was in the US I would read that as in the US market - whichever portion you think is best value at the moment, and somewhere in the 25-50% invested area. Treasuries pay decent rates just now, and having 50-75% "spare ammo" to use if markets fall a long way gives some compensation for the losses you might incur in that fall.

SA