@Sharetrader78The FED will not let the market drift lower until...

@Sharetrader78
The FED will not let the market drift lower until the banking crisis has passed, they do this by using their own PPT and funelling cheap fiat into larger companies.
The short sellers on the smaller banks got absolutely smashed last night with huge rallies based on positive comments from JP Morgan; So more of a short cover rally, which pushed the market up along with a positive earnings report from Apple (previously revised downwards).
The FED recently gave a $50 Billion dollar loan to JP Morgan at an undisclosed interest rate (to sure-up banks IMHO) so JP would have made a small fortune by spooking the shorter sellers (IMHO).
The best approach is to sit on some serious idle cash until the direction becomes clear, but i do hold a few recently bashed stocks plus physical gold and some energy stocks.
I agree with you, that we will see a big reset, but it may take another quarter to develop.
I believe that the interest rate rises will inevertly take affect, and once that is reflected in lower company revenues you'll see a steady decline followed by a waterfall event (when it becomes clear that "buying the dip" is a poisoned pill).
Until then there is still a high potential for a black-swan event, which is why it's not a bad idea to hold an insurance position in BBUS until the main event.