where are the bargains?

Well, we're on another run; a slight "correction" and the market continues to forge ahead on mixed news. No new jobs, very few housing starts, mean house prices still falling in many markets, another wave of foreclosures on the way, etc. etc.

On the other hand, corporate earnings are up broadly, so business efficiency steps have paid off and stock prices are following the earnings up. This investor still wants to be paid NOW, so I'm looking for those instruments that pay steadily. I'll take the rising value, but show me the money. It means I'm purchasing the next dividend at a bit higher price, but if earnings are rising, I'll hope that shows up in a higher dividend soon. Nonetheless, my new sensibility says I'll take 5-7% payment on a steady basis, reinvest those dividends and any modest rise in price that follows is gravy. I don't need to equal historic stock market gains to be secure. What I need is to avoid losing value. The dividend cushion has paid off nicely over the last 2 years. My losses were significantly less than the market, and I'm out ahead of the S&P 500 on the run-up. now if only my real estate holdings would start to behave that way as well...