Help me allocate

[BadBoyBenny]

So, I have 2 investment options through my employer. One is a 401K that invests in Vangaurd funds. I get a 4% match on the first 6% of my income I contribute. I can invest up to 18% of my earnings in this pretax.

They also have an employee share purchase program at which I can buy company shares at 15% below market price. I set up a percentage and this is automatically deducted from my paycheck, but shares are bought only on the first day of each quarter.

I also have an Ameritrade account that I have not contributed to since I was an intern at a different company. I started investing in this at the wrong time (Early 2001) but have still managed a return > 14% per year picking stocks.

I can sell the company shares after I have owned them for 12 months. So I could sart some program where I buy them each month and sell the ones I bought a year ago and take the instant 15%. I guess I could then put this in a Roth or something when I get the cash.

Anyway, whoever here is good at portfolio theory thell me what is my optimal allocation to get the best risk/return?

The company I work for is an international conglomerate with a morket cap over 25 billion, it is somewhat diversified owning major cyclical and non-cyclical businesses.

Currently my allocation is approximatley
Ameritade Account = 1.0
401K = 1.5
Company Stock 0.6

1. Should I adjust my current allocation (assume trading costs to get money in and out of anything) and I can't pull money out of the 401K without penalties.

2.) Where should I start putting my future income? Assuming I wil put at least enough into the 401K to max the employer match.

3.) I don't want to disclose my employer, but for the sake of argument, assume it is fairly valued.