Crazziness in the markets right now

Maybe somone on here who understands this better than I do can enlighten me. My understanding is that volatility right now is coming primarily from hedge funds and that there is not much activity from your avg Joe Blow. Read that much of the public is still sitting on the sideline. I made a killing up until 3/10 as I'm sure many did and then got out. Afraid to go anywhere near stocks at the present w/ multi percentage point swings happening daily!