I'm not sure what your time horizon for short term investment is, so I will answer from my perspectives. Short-term investing is typically to protect capital and minimize or eliminate potential downside risk. If this is the goal, then depending on the time horizon, I would include bank CD', treasury bills, commercial paper, short-term bonds and money markets as possibilities. But if you take taxes into account, it may be better to invest in tax-free vehicles such as municipal bonds. goodluck