reporting season bloodbath expected by analyst, page-7

Yes its takes awhile for revenue effects to filter through to reporting - nut if your waiting for that your way to slow.

Shares have mostly priced in the recessionary slump.
This is old news that the market is aware of.

The only effect reporting should have is adjustment of surprises i.e. markets sectors not expected to be effected by the recession that are.

Look at BHP down 40% odd from june last year.
4 main banks SP slaughtered.
Hows that not adjusting for an expected 5 - 20% reduction in earnings.

Blood bath is an overstatement and the article states the obvious