Ally Bank has a no-penalty CD at 1.50% right now with a $25k minimum deposit, which is the highest I've seen for similar products. You can close the CD at any point after the first 6 days with no penalty, and they'll pay you whatever interest you've accrued along with the principal. Very easy to use website.

That's I think one of the best short-term reserves capital preserving things I've found. It's actually paying more than a lot of short-term bonds with virtually zero risk.

But you should probably diversify, even a little. Come up with a percentage of your portfolio you wouldn't mind risking for the forseeable future. I'm not one of those people who will tell you to maintain a specific asset allocation for your entire life, regardless of how the market is doing.

I'm 25% in the market right now for instance. According to some, that's VERY low. I've missed out on a lot of potential gains by having such low exposure, but it doesn't bother me. I still have a lot of dividend and interest coming in from other low-risk things like money markets, money market funds, short-term bond funds, CDs, high-yield savings accounts, and treasuries. I feel better knowing that I'm positioned for something bad. I wasn't sleeping well when I had a higher exposure.