If you think the Fed is going to prop up the market, why not just go long stocks or XIV? I fought the Fed from 2009 to 2011. It was very painful. At some point you have to realize you are wrong and fighting the Fed is a losing proposition. I am halfway back in recovering my losses. It is not too late for you to average into XIV.
I agree with ya rain .. but I think its more complicated than the Fed doing the heavy lifting. HFT teams are buying these dips .. based on the PROMISE of injection... not the actual injection. Tomorrow will be interesting .. cause its a NON POMO day .. but expect some bullishness .. without the injection. (JMO)