Why I entered PFE yesterday although I was not optimistic about ER as well as I normally do not play ER.

1. When the System's 600 Bottom is confirmed, it's always an easy indication to start open up the LT position.
2. Downside is limited so it's not stiff average down when doubling up.
3. In the Worst case scenario, it's still very good Dividend stock with yield close to 4%.
4. Dividend + Stock Buy Back(9B) -> Impact to Stock price around 7%.

My Min PT was 42 for the ST so knowing all above, 39.06 is the fair value with 7% discount.
Thus doubling up near 38 would be less than 39 on average price from the initial buy at 39.8 area.
This makes very comfy holdings for either ST or LT.

I started with small position yesterday with 250 Shares.
Plan to double down at 38 and buy another 500 with bounce around 38.5.
This makes total 1,000 shares at average price around 38.65.
With PT at 42, comfy return expected between 7 and 10% including 1% dividend.

System's 600 day bottom vs Actual low.

System 600 Day Bottom: 39.49
Today's Actual Low: 39.48

There's 1 cent discrepancy before bounce.
No matter what condition, when the stock hit the absolute bottom, it bounces hard.