Now they want to know what's going to go wrong.
Investors mark the days on an odd calendar.
Instead of taking cues from the sun and the moon, they count time from earnings report to earnings report. Instead of 12 months and four seasons, they divide the year into four quarters and eight seasons. In a normal year, second quarter earnings warnings season is succeeded by second quarter earnings reporting season, which in turn is followed by third quarter warnings season and third quarter reporting season. And in a normal year, the stock market ebbs in warnings season and surges in reporting season as regularly as the tides dance to the pull of the moon. But this year doesn't seem normal.