My opinion on the markets, is only my opinion... not advice. Since I dropped my registration in the Securities Industry I can speak more clearly... that does not make me correct. In the short term, markets make everybody look dumb.
That said....
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The distortions in the markets caused by the various central banks has created an opportunity for the little guy (IMHO). The Little Guy has been given a second chance to sell most of his U.S. equities. I have been a long term holder and bull for precious metals BUT... I have never seen a market go vertical/parabolic and not end up badly. That does not mean things can't get MORE parabolic... but buying here seems unwise (but I could be wrong).... See, the US$ has already collapsed (IMHO) vs the ROW currencies... and the U.S. is NOT Zimbabwe. The U.S. will default on Social Security and Medicare (by raising the retirement age and decreasing benefits) LONG BEFORE it will default on its debt.... and that is enormously deflationary, not inflationary.
The Fed has been reasonably successful in their re-inflationary efforts, at least as far as asset prices go... but please note that the desired effect - reinflation of house prices - has NOT occurred. There can be no inflation - hyper or otherwise - without inflation in housing prices. Even the U.S. Treasury and the Federal Reserve cannot prevent the necessity of the U.S. housing market to be "cleared", and in order for that market to "clear" prices must fall farther and for some time.
Not that this makes it easy to profit from. The various central banks are stepping all over themselves and all over the markets.