I would be cautious trying to time the bottom. I'm waiting till the VIX is stable for a week or more.

Stocks are different from forex mentality. You have to be ready to hold them much, much longer. Don't think you can change holdings in and out every week. This goes back to the active management mistake/fallacy (hint: you can't beat the index)

I've been in the market during the housing issue and Bush era. This is the weirdest, illogical week I've seen in a while, so I am making sure there are many signs of stabilizing until I do anything. It's worth it to miss out on potential profits.