Program trading is not a "conspiracy theory"...it is fact (see article below for a primer). And there's a limit to how much the average investor can do as you suggest and just keep on buying. As much as I wish I did, I simply don't have unlimited $ to fight off a short attack by some multi-billion-dollar hedge fund.
The best thing to do is just suck it up, ignore the paper losses/gains, and hold. Unfortunately the increased volatility does make the market a little more concerning to many individual investors.