"Floating rate securities are very timely, given the current interest rate environment; I'd like to increase my weighting in these securities now and Pioneer Floating Rate Trust (PHD) is the best way to accomplish that now," says income expert Amy Calistri.

The editor of The Daily Paycheck explains, "The closed-end fund is trading at a reasonable premium to its average. PHD is currently trading at a premium of 0.31% compared to its 52-week average of 1.67%.

"All floating rate funds were forced to trim their dividends as interest rates fell. PHD's last dividend cut was in May 2010, which was a little later in the interest cycle than the dividend actions taken by other funds.

Is the glass half full of half empty? This is a perennial debate.

Those who are bearish say the market has gone too far to the upside; investors are shrugging off the latest debt scare in Europe; we have rising global interest rates; there's a potential meltdown in the municipal bond market; earnings may disappoint; the VIX is too low; and on and on we go.

For the bulls, the S&P 500 has traded above its 50-day moving average for 94 consecutive sessions, according to Birinyi Associates. This is the first time this has happened in five years. Many analysts consider stock valuations to be at relatively low levels. The glass for them is still half full.

This post is part of a 12-article feature that can be read here: Today's best income ideas.

"You may be surprised to learn that we are in the midst of one of the greatest financial bubbles in history," explains Nick Vardy, referring to long-term government bonds.

In his Global Bull Market Alert, the advisor suggests, "This bubble isn't motivated by greed, but by fear." Here, he looks at the Rydex Inverse Government Long Bond Strategy Inverse (RYJUX), which he says, has the potential to become "the biggest trade of the year."