It seems that everyone is dismissing the weakness in the dollar. It seems that the market has risen in part because of credit and so called "free money" flowing like crazy. If you look at the deficits our government has created, as well as the amount of credit consumers are using up, it makes you wonder if the recent strong performance isn't just inflation taking hold? Will the Fed have to raise rates to deal with this? Even though the market looks strong, its important to look to the future to make our next investing decisions.
I like to get some international exposure to start. I'm a fan of Dodge and Cox's International Fund (DODFX). It isn't focused on one area, but rather makes investments in many countries, including the US. One of their largest holdings is actually News Corp (NWS/A), which I have recently discussed. But they also provide exposure to expanding markets throughout the world as well.
I've also mentioned the company Cemex (CX). Their recent drop was an excellent buying point, and I picked up some shares for the portfolio. It has responded with two strong trading sessions, which I'm glad to see.
On the conservative side, you could look at Vanguard's Inflation Protected Securities Index Fund (VIPSX). They provide a nice hedge against weakness in the dollar, and the broad market.