Your tendency towards a heavier cash position will have it's disadvantages in total returns over time, but it's perfect for a situation like this. I see no problem nibbling now, as long as you have dry powder for the "big one" if it comes in 2019. IMO you'd be foolish to do otherwise. 90% of the media is in Armageddon mode, so just maybe we are due for a big bounce? It would be a lost opportunity to sit on your hands buying nothing now.
On a side note it's raining lemons so I am going to make some lemonade this week. I have one account that is taxable with recent losses in MO,T, and F. I will dump them this week and replace with a high div ETF that owns them all. Capture the tax losses and offset my rental property income this year. Only thing that made a real profit in 2018. Might as well dodge income taxes since it;s easy and pretty much risk free. I own plenty of those stocks in my IRA anyway, and if they should run quick, which I highly doubt, I won't miss out because the ETF will capture most of it to include dividends. The little moves add up in the end.
On a side note it's raining lemons so I am going to make some lemonade this week. I have one account that is taxable with recent losses in MO,T, and F. I will dump them this week and replace with a high div ETF that owns them all. Capture the tax losses and offset my rental property income this year. Only thing that made a real profit in 2018. Might as well dodge income taxes since it;s easy and pretty much risk free. I own plenty of those stocks in my IRA anyway, and if they should run quick, which I highly doubt, I won't miss out because the ETF will capture most of it to include dividends. The little moves add up in the end.