Yes, we were premature. The last week saw markets increase with only a mild decrease on Friday. We own it.
The goal of zenruption has been to make bold predictions that no one on Wall Street would ever make while they protect their coveted positions. Bold can often be wrong, but we are willing to keep doing it with proper analysis.
The problem of the last week has been that the markets were shown for how completely disjointed they really are. Lackluster reports on consumer purchasing and the producer price index, didn't even register. China reported results that beat expectations by .1 percent, as they always do (hmm... central control) and a couple bank and Alcoa beat not on revenue but earnings, which involved cost cutting. Oh and projections for the 1st quarter show that we aren't still in recession, but growth was poor.
If anything stuck out, it was how far reality the stock market is at this time. zenruption has consistently argued that the time has come for a correction that is long overdue. That such a disconnect currently exists is truly scary.
Maybe calling a coming week was overly bold in light of the market dynamics, but we will leave it at the point that we still expect it soon. An early call isn't bad if it ends up correct in the end. If for any reason we are wrong, we promise to own it. Humility creates better leadership and better stock picks. We will stick to that.
Lina Martinez is a contributor to zenruption's life and money sections. We have no doubt that she has got this. Considering the revenue she has produced in calls over the last two months, we are happy that we have her analysis and not some fat cats on Wall Street.
Feature photo courtesy of Flickr, under Creative Commons Attribution-Noncommercial license