My second manuscript is in the hands of readers (with whom I'm ashamed to say I'm growing very impatient--sorry guys; I love you!), so I have nothing to do with it for a while. I have one single plot thread figured out for the next one, but I'm nowhere near ready to start writing anything. I don't think I would want to until I have the second in final form anyway.
I just finished my second short story this week too. I finished it twice, actually. I completed it Thursday, only to wake up in the middle of the night to realize it was all wrong, so I went back and re-wrote the entire ending yesterday morning and then proofread and edited it yesterday afternoon. I'm going to give it a last once-over today before posting it on my website, but I feel pretty sure it's where I want it to be. And I have no other plot ideas in mind at the moment.
So what does a writer do when he has no projects under way? For one, I'll probably be blogging a little more regularly. For another, I think this is a good time to concentrate a lot more heavily on finding an agent and/or publisher. I really believe this material is good enough to sell, so it's just a matter of finding someone in power who agrees with me. I've been shopping my first manuscript to agents and publishing houses for over a year now, so I think it's make or break time. If I haven't made real substantive progress toward a publication deal by the end of summer, I fear it will be time to make that decision to self-publish.
So all you agents who are out there reading this--show yourselves!