I would guess people have more buying power now. Either cash and/or available margin funds for trading. In rough numbers, I think the NASDAQ is down about 10% from it's recent high of 2375. I forget what the term is (Intermediate correction?) when a 10%+ correction happens.
But I don't know what will happen next. I focus on high sales growth and profits with low valuations. I know that fund managers like Oberweis, Barry Bjurman, Gartmore, Barclays, Calpers, Dimension, American Century, Northpoint, and many others follow this strategy.