How to Position

Should one position for a move up or down? Or should we be market neutral and position for NO move? I had genuine concerns this month and was not prepared to take risk either way but positioned for a drop, with the expectation of being wrong and making a modest loss. At times like these the loonies in charge of the cash are liable to step in and make a mockery of free markets, so it's hard to make money. I don't think I should beat myself up just yet,but if we get to July and I haven't made some serious coin........