I'm definitely waiting until market correction - not trying to buy into a falling knife.
Your waiting may last infinitely as you will never able to figure out when will be the corrections ending. I like to suggest you to ignore altcoins completely and do focus on only bitcoins. Buy now some bitcoins for 10% of your capital and wait for one week time and buy again for another 10%. You will be into safer hand if you are ready to buy in average prices.
I agree that it's really all speculation, but right now all coins are seeing a downward spiral - I'm going to try and catch the lowest dip I can. I'm only going to invest 2BTC right now so alts seem to be the best way to gain capital with such a low investment, hopefully with short term gains I'll be able to move money into more secure coins like BTC/ETC.