Interesting.

So US Treasury securities instead of cash right?

And then every time there is a dip, sell the treasuries and buy ETFs?

Sure. Dollar cost averaging across a broad spectrum works well for a (very) conservative investor. I try never to have more than 10% of my liquid assets in speculative deals (straight up gambling stuff... individual stock picks, day trading, options, etc). The rest I try to keep as long term investing and/or cash or near cash.