Even though I am not too knowledgeable in the US tax system. My first though would be to defer the capital gains tax. Either purchase new shares or even better, invest the capital gains into government securities. Those are usually not taxed at all, to make sure this is correct you should ask your accountant/tax consultant - or cheaper ...ask... google.
Reinvestment would be a sensible solution, remember though that your return on the fixed income securities (bonds) are usually yielding lower returns than investments in non fixed income securities, especially in bull markets.
It should not hurt though to put some money on the side and have a steady flow of income from a fixed security, another aspect would a better diversified portfolio minimising your risk exposure.
-pefix
