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Please Let Earnings Be Bad

By Tim Melvin

 About this article:
 The next few weeks are going to be interesting. We have debated back and forth about the state of the economy and direction of the market, but now we will have to face facts. The facts are coming in the form of earnings report over the next few weeks and they will tell us if there are green shoots or poison ivy sprouting. The earnings themselves are of course critical, but investors and traders will be watching guidance for the second half of the year just as closely. I confess I will be shocked if earnings are good on any level. I see no evidence that economic activity is picking up and the cost-cutting of the first half of the year is not going to be as big a positive as it was last quarter. I am hoping that less bad or better than we thought...

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