No long term value at these levels.

It's not about timing the market exactly, but knowing when the tide is more favorable.  The tide is not at the bulls back, in my opinion.  It may go higher over the next several months, but it's better to be out too early than too late.  There will come a time when it is far more favorable to be in equities in the next couple years.

Mauldin lays it out very well here.

http://finance.yahoo.com/blogs/breakout/lost-decade-turn-lost-generation-stocks-135903335.html