Dollar cost averaging is a decent way to hedge your risk against going in too early. You can miss out on gains if it just takes off after your first purchase, but at least you're in the game at that point. If it keeps going down, you get the chance to get more shares at a lower price. This does allow you to lower your average cost, but lowering your average cost shouldn't be the goal.

I think the goal should be to buy investments that you think will make money. If that happens to lower your average, that's ok, but those shares will take a loss if they're sold at less than the buy price of that specific share. First in, first out.

Bottom line, DCA is a good way to spread risk if you think the market is going down more, so I agree with you. My agreement is not investment advice though. ;)