Even if you are young, you still need to be diversified. I would say either the total stock market index or the S&P 500 would be fine for a good base of instant diversification. If you have enough money to split into more funds, I would recomend adding the total international stock market index. At least this is the current track I'm on 
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"He was guilty of nothing, except that he earned his own fortune and never forgot that it was his." Atlas Shrugged
"I swear--by my life and my love of it--that I will never live for the sake of another man, nor ask another man to live for mine." Atlas Shrugged
"Your life is not my fault. My life is not your business"
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