Earnings season is upon us...

It will not be pretty. Just one person’s opinion not close to retiring off his forecasts :)

It was a good quarter for my trading, which helped offest losses in my long portfolio – But I don’t get a good feeling for the tape. We have rallied nicely around the globe of the May lows – except the US.

I look for the US to lead the next global downturn. I am looking at selective August in the money puts to offset my longs.

I am following the new-high list closely to gauge the market’s strength on the current rally. It is thin as I have posted.

If I am right, the summer and fall will be ugly and rate cuts late summer, early fall will stave a global meltdown.

I expect tons more, big, global mergers as well. That will buffer the markets as well.