There is a difference between traders and investors. Investors typically look for positive results over a longer-term time horizon. Traders, on the other hand, attempt to add excess returns by trading in and out of positions over the short to intermediate-term.
During last week's sharp declines, traders had to reduce positions and manage risk. On the other hand, long-term investors were looking to add to positions. I act as both an investor and a trader for various portions of my portfolio.
Note that we always blog or Twitter whenever we have a change in our long-term or intermediate-term (overbought/oversold) stock indicators. We also periodically discuss the futures markets.