For those of you that needed a reminder why to not try and time the market--here it is.
Speaking for myself here, I like holding small cap stocks in my portfolio (like the Russell 2000 index).
Historical data shows that this index of small company stocks has outperformed the broader, overall stock market over the past 100-ish years. LINK
Because of this outperformance many investors, especially young and/or aggressive investors, tilt their portfolios to small cap stocks.
With this outperformance comes increased risk, too. The Russell 2000 is more volatile and has larger swings in value than the S&P 500 or larger stock indexes.
As investors we need to be patient. If you're trying to time when the market is going to pop you're chasing fool's gold. The better strategy is to have an investment plan, AND STICK WITH IT.