So let's be honest here, I ain't graduated to trading yet. I just nibble at the margins sometimes. But, logically (at least to the best of mine!), what I would say is this:
If it appears the Fed will have an "easy" monetary policy for the foreseeable future, always err to the long side - buy dips, only sell truly huge rallies, any free money you have invest sooner rather than later, etc.
If it appears the Fed will have a "tight" monetary policy for the foreseeable future, become a Ken, smear blood on your face, short fucking everything in site and dance with the Devil in the pale moon light...