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There was almost nothing good that happened today. I say almost, because we saw something amazing happen. WellPoint ( WLP) reported a monster quarter. Just monster. I know away from this article, there is controversy brewing -- homegrown! -- about what might be going on in the Senate and Wellpoint.

All I can tell you is that this company made so much money, it couldn't even hide it. I used to own the stock for Action Alerts PLUS, but sold it believing that it would be bruised if not broken by the healthcare reform plans of President Obama.

Instead, we have something pretty exciting brewing here. The stock, despite the hideous day, outperformed the stock market, EVEN THOUGH TOMORROW WILL BE NANCY PELOSI'S DAY to take apart the HMO industry. Everyone knew it, but the stock barely got hit. Why? Because Pelosi's not the driver here. The Senate is. Although Chuck Schumer says he has 60 votes for reform, I believe the reform that passes will not be a reform that does anything more than nick WellPoint.

As of today, Wellpoint is a double-digit grower that sells at 8 times earnings. I don't care if health care reform clips the thing for 25 cents a share -- and I doubt it will even be a dime -- this stock is too cheap. I know the chart is bad. I know the optics are bad.
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But the earnings are good and going to stay good.

This is pretty much the end of the line for health care reform. I am betting that WLP will get a multiple of at least 10 times when the health care debate is over. Let's cut 25 cents off the earnings. You still get to $53 a share.

That's my new WLP target in 72 hours when I think, at last, the worst of the headline noise will be over.

At the time of publication, Cramer held no positions in the stocks mentioned.


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