What is the Game Plan with this Current Toppy Market?

DIVIDEND STOCKS:
I will continue to readjust my portfolio towards High Dividend Earning Stocks.    There dividend provides some imunization against short seller given they have to pay a dividend when holding the short.   Furthermore the list is set of blue chip stocks that are trusted names that have a proven track rocord.   This list is a two months old and created from a list from Hypovereinsbank in Germany.  
AT & T INC. REGISTERED SHARES DL 1 n.a. 6,45
VERIZON COMMUNICATIONS INC. REGISTERED S... 6,31
DU PONT NEMOURS & CO., E.I. REGISTERED S... 4,45
PFIZER INC. REGISTERED SHARES DL -,05 4,42
MERCK & CO. INC. (NEW) REGISTERED SHARES... 4,08
KRAFT FOODS INC. REGISTERED SHARES CLASS... 3,99
CHEVRON CORP. REGISTERED SHARES DL-,75 3,71
MCDONALD'S CORP. REGISTERED SHARES DL-,0...3,40
COCA-COLA CO., THE REGISTERED SHARES DL ...3,24
JOHNSON & JOHNSON REGISTERED SHARES DL 1 3,22
HOME DEPOT INC., THE REGISTERED SHARES D... 2,86
CATERPILLAR INC. REGISTERED SHARES DL 1 2,83
PROCTER & GAMBLE CO., THE REGISTERED SHA...2,80
INTEL CORP. REGISTERED SHARES DL -,001 2,77
EXXON MOBIL CORP. REGISTERED SHARES O.N. 2,61
3M CO. REGISTERED SHARES DL -,01 2,58
TRAVELERS COMPANIES INC.,THE REGISTERED ...2,47
BOEING CO. REGISTERED SHARES DL 5 2,34
UNITED TECHNOLOGIES CORP. REGISTERED SHA... 2,24
AMERICAN EXPRESS CO. REGISTERED SHARES D... 2,24
GENERAL ELECTRIC CO. REGISTERED SHARES D... n.a. 2,23
WAL-MART STORES INC. REGISTERED SHARES D... n.a. 2,01
INTL BUSINESS MACHINES CORP. REGISTERED ... n.a. 1,76
MICROSOFT CORP. REGISTERED SHARES DL-,00... n.a. 1,75
JPMORGAN CHASE & CO. REGISTERED SHARES D... n.a. 1,31
DISNEY CO., THE WALT REGISTERED SHARES D... n.a. 1,12
ALCOA INC. REGISTERED SHARES DL 1 n.a. 0,98
HEWLETT-PACKARD CO. REGISTERED SHARES DL... n.a. 0,61
BANK OF AMERICA CORP. REGISTERED SHARES ... n.a. 0,27

CASH ?  During the list be downturn during the good old TARP days in 2008-9, cash seemed to be the only investment that did not loose value.    So I think I am going to raise my cash levels as stocks appreciate to about 20% at least plus what funds I might need in the next few years.   This is always a hard process to implement especially in a down market. 

GOLD ?   Seems priced high currently.   I have some amounts in a 401 K.   Indian Wedding season is late summer so one might expect gold to continue up from here.   I am extremely leery of a GOLD Bubble?