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I think it's unreasonable to label dollar cost averaging a form of market timing, since as you note it doesn't consider the state of the market.

When you put money in the market later, rather than now, in hopes that later will be a better time, it sure looks like market timing.

And I am not objecting to market timing as such.

It's half-hearted market timing - "later might be better, so I'll put PART OF my money in".

It's market timing without looking - if you aren't going to look, take the bet that gives the best long-term-average return; that bet is, put it all in.

And now in this thread we have an even worse form: someone who actually IS looking, deciding that this is a bad time to put money in, and putting money in anyway! (At least that person is putting only part of the money in - but wouldn't it make more sense to hold ALL of it back for now?)
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