April 2013 Dividend Gems Opening Statement

We are now beginning to see some earnings weakness in excess of that expected by investors. We feel that continued earnings disappointments could initiate a period of temporary downside in the U.S. stock market. But this is a very preliminary assessment. Without continued earnings misses, we would most likely need other catalysts to spark such a down period such as worrisome economic data from China and/or Europe, all of which is very possible and fairly probable.