Thats what I said about the Nasdaq a few years ago when it plunged through 3000 and then 2000 and then 1200. I mean, hell...it was 5000 just a few months back and I didnt think it was overpriced until it topped 3700.
So nibbling is always nice, but I might wait a while before I threw in the anchor.
Catchin the fallin knife. I've been burned to. I think I'm going to space it out over the next year and see what happens. If the market gets started on a big rally that hurts emotionally though. Being out when things are going up can be more stressful than being in when it's going down.