Bull Market Or BS: Global Double Dip Ahead?

A big drop in consumer confidence ahead of Friday's crucial jobs reports has exacerbated fears of a double-dip recession.

Gary Shilling, president of A. Gary Shilling and Company has been forecasting the potential of just such a move for quite some time.

"The odds of a double dip are 50% and rising," he tells the desk.

As a 'realist' he tells us there are a number of catalysts that will continue to weigh on the economy over the weeks and months ahead, including the European debt crisis, a weak domestic housing market, high employment and a slow down in China.

As a result, he says the best moves for investors right now are longTreasurys, shortstocks, short China and shortcopper, he tells the desk.

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Trader disclosure: On June 29, 2010, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Adami owns (AGU), (BTU), (NUE), (C), (GS), (INTC), (MSFT); Adami’s wife works at Merck; Pete Najarian owns (MRVL), short calls; Pete Najarian owns (HPQ), short calls; Pete Najarian owns (MRVL), short calls; Pete Najarian owns (CMC) a call spread; Pete Najarian owns (TCK), short calls; Pete Najarian owns (AMD) calls; Pete Najarian owns (LLC) a call spread; Pete Najarian owns (C) calls; Pete Najarian owns (BAC); Pete Najarian owns (BBY) a call spread

For Anthony Scaramucci
Scaramucci and Skybridge Capital own (JNJ)
Scaramucci and Skybridge Capital own (ESV)
Scaramucci and Skybridge Capital own (HAS)
Scaramucci and Skybridge Capital own (JPM)
Scaramucci and Skybridge Capital own (BAC)
Scaramucci and Skybridge Capital own (C)
Scaramucci and Skybridge Capital own (GS)
Scaramucci and Skybridge Capital own (HPQ)
Scaramucci and Skybridge Capital own (DELL)
Scaramucci and Skybridge Capital own (GOOG)
Scaramucci and Skybridge Capital own (SPY)
Scaramucci and Skybridge Capital own US Dollars

For Dennis Gartman
Funds Managed By Dennis Gartman Are Short Yen
Funds Managed By Dennis Gartman Are Long Canadian Dollar, Australian Dollar

For Gene Munster
Piper Jaffray makes a market in (AAPL)
Piper Jaffray makes a market in (GOOG)
Piper Jaffray makes a market in (IACI)
Piper Jaffray makes a market in (BIDU)
Piper Jaffray makes a market in (DRIV)
Piper Jaffray makes a market in (YHOO)

For Gary Shilling
Shilling is short equities

Scott Nations
***NO DISCLOSURES***


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