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Originally Posted by Ethersync
I'm not so sure. We have not hit bottom yet. If you get the timing right you can do well right now with trades like you describe, but you are playing with fire. Good luck though.
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I don't try and time anything. Just look for stuff that is cheap. Hell, WFC is trading at a cheap multiple even against the possibility of an awful 2009. Citi analyst downgraded it and went with $1.50 instead of $2.00. $21/1.50 is cheap enough but when you consider a return to normal earnings in 2010-11 and then discount the future earnings to the present you are looking at a real cheap stock.