We are certainly headed for another bubble....the only question is When, and how long it will last. The stock market is a continuous "roller coaster", but for the past few years, it is the ONLY venue that allows an opportunity to grow a persons finances. Money in the bank earns virtually nothing, nor will it until the Fed allows rates to climb....and That can only happen if and when our government begins to look seriously at this nations National Debt, and rewrites our tax codes such that it can begin to reverse this debt. Gold and Silver are only good as a hedge against Inflation, but again, so long as the Fed suppresses interest rates, inflation is unlikely, and precious metals will go nowhere. Municipal Bonds are doing nothing, as most cities and states are struggling just to stay even. That leaves little other than the Stock Market as a means for individuals to maintain, or grow, their worth.
Knowing that, a person MUST monitor their holdings closely, and spend some time, daily, to check on market and global news. Watching CNBC, or Bloomberg on TV, or reading the financial news on the Internet, etc., is time well spent, and can give a person a good clue as to market direction. Self management of an IRA, or portfolio is a Must, as many financial institutions trade far too often, thus creating "churn" that eats up any gains via transaction fees....that's how they "bleed" the smaller investors.
Investing is a "career" and must be looked upon as such. Just parking money in a fund, and "assuming" the fund management will take good care of it is risky. Only funds with excellent ratings from Lipper and/or Morningstar should be utilized for the best chance of proper fund management....and even then, a person needs to have their portfolio set up such that they can move the funds themselves.
Perhaps the best advice is the old saying of "Go Away in May, and Come Back in November". The best gains always seem to come in the Winter, while most losses occur in the Summer/early Fall.
