I got out of all long positions in stocks and bonds (not as soon as I should have). Everything is in municipal money markets (yielding equivalent of 6% pre-tax right now) and FDIC-insured interest checking (3.4%) and CDs (3.7%) at night so I can sleep.
During the day, small plays in ETFs like QID
(2x short NASDAQ) and QLD
(2x long NASDAQ) to ride the volatility.
401(k) contributions are going into long stock index funds (75% domestic, 25% international).
Hold on tight everyone!