Many people try to be contrarians, very few accomplish it.

It is easier to step and take a chance here if you have been bearish for over a year -- like Dennis Kneal said Ritholtz was.

Anyone short for most of 2008, and then buying in October has to be considered a contrarian. Most people dont have the discipline or the confidence in their methodology to do that

Its a tough trade, but it looks like a smart one.