On February 22, CNBC Fast Money‘s Dylan Ratigan called for a correction in the bull market based on news about “three blondes” — Britney, Anna Nicole and a “Goldilocks” economy that’s neither too hot nor too cold.
Of course, the central indicator of worldwide economic activity doesn’t trade on trashy celebrity gossip, but that doesn’t take away from the fact that he was right. The games networks play — no wonder they are in trouble!
Granted, a correction had been suggested by analysts as overdue, and Ratigan also cited S&P index growth, margin debt and a long streak without a 2 percent correction. If you go around trying to predict the whims of Wall Street, chances are you’ll be right at least once.
In a web-only clip, Ratigan admitted to Liz Claman that he was more lucky than smart. A daily recap of Fast Money is available on the CNBC site as part of its expanded free and pay subscription video offerings.