The Dow now trades above 11,000, and the S&P 500 just breached the psychologically significant 1,200 mark. As this bull market passes new milestones, there are two types of investors left wondering how best to play this roaring ride. I call this a tale of two investors and, yes, I borrowed the concept from the great Charles Dickens.

On the one hand, you have investors that largely have stood on the sidelines in anticipation of a market breakdown. If you’re in this camp, then now is definitely not the time to put new money to work in stocks. I know it’s tempting to capitulate and just throw your money into equities, but if you aren’t in the market already, then you are tempting fate by buying at these vaulted levels.

On the other hand, you have investors who are long this market and are wondering if now is the time to sell, or if they should put more money into stocks. I say that neither answer is correct. If you own stocks right now, then congratulations. Your money is working for you, and there is no reason to sell now out of fear of a pullback. Certainly, you should have tight stop-loss orders in place to protect your gains, but there is no reason to get rid of your equities until we see signs of a real correction.

When we do see signs that the inevitable correction is here, and stocks pull back by 5-10% or more, then that will serve as your green light to start re-allocating new money into the market. Essentially, regardless of what type of investor you are, the prescription now is to be patient, and to wait for this amazing bull to change direction.