Heads I Win, Tails you lose.

Mike W. says "We were wrong" and acknowledges his mistake in underestimating the equity rally,

But at the same time remains cautious about corporate America’s earnings power.

From being a bear, Mike W is now a hybrid "BULLEAR".

So if the markets go up.. he can say - "I did concede defeat"

and if the markets go down - he can say - "I didn't raise the S&P target."

$SPY

$QQQ

$IWM