It wouldn't make sense to trade for him without a new contract.
If a Dwayne Bowe trade did happen, it'd be a big surprise.
ESPN's John Clayton said on NFL Live this afternoon that it's unlikely Bowe will be traded, there's "virtually no chance".
I agree with this. You'd think there'd be a legitimate trade rumor by now if it were really going to go down.
It all comes down to the contract. Any team that wants Bowe would be committing to paying him the rest of this year's salary -- the nearly $10 million franchise tag number -- as well as a minimum of another franchise tag in 2013. So that's over $15 million you'd have to commit to him just to keep him on through 2013.
If Bowe weren't under the franchise tag and eligible to sign a longterm deal as part of the deal, I could see something getting done. Sort of like those sign-and-trades that happen in the NBA.
But without a guarantee you can hang onto him for more than a season, it's hard to justify giving anything up for him.