The articles always advise people to sell on good news or when the economy is over-heated. However, I'm curious, what should one do with the cash when one liquidates one's investments?

Leaving it in the bank is silly considering inflation and the insulting interest payouts.

Putting it in government bonds isn't a solution either since it locks up your money and prevents you from entering the market (ppty or equity) when there's an opportunity.

Anyone care to enlighten me?