dow pe 100 or bust

At the peak of the last bubble it was around 44, now its 70! Oil $120 - who cares? Can't afford to live in a house - great, buy stocks with the money you are saving. Hate to rant but this is incredible. I've got a couple of oil service stocks and a very tiny short on the rut here. I just try to daytrade this mess for the most part but I couldn't buy and hold anything at this time. Any buy and holders here? I really would like to see some good, logical explanations why one should do so here - seriously.

Stock market is the next bubble FED wants to inflate. FED is running out of choices. Inflation and weak Dollar are great for stocks.