IS this a good or poor time to use short term mean reversion systems?

You know, buy stuff that’s down big over the past few days. Sell the relative stronger stocks… any comments?

It depends on how well you can avoid the transaction costs. With higher volatility comes increased opportunities but much higher transaction-related risk. The market-makers are circling like sharks these days; I’ve had a lot of trouble getting things bought and sold at the right price.