thestreet.com — NEW YORK (TheStreet) -- Everyone knows Warren Buffett's old line about being greedy when others are fearful but pulling the trigger is a whole different matter. Take Monday's action, for example. After Friday's washout, the S&P 500 began the day trading at a forward price-to-earnings multiple of 12.55X, having pulled back roughly 10% from a near-term high of 1422 on April 2.