Oh I almost forgot ... the near term advice

1. sell an equity or fund to realize up to $3000 loss to off set that much in gains.
2. Do so before the mutual fund distributes capital gains for the year
3. Almost everyone else in the market will do like-wise so sell by the end of October or early November
4. Expect a sell off late in the year by the others to take losses and a bit of a rebound at the first of next year.
4. Stocks in companies with large debt will not do well in the coming recession

Hope this helps