There's loads of things to worry about if you are a bear such as valuations, China, US yield curve flattening, economic woes in Europe, the recent collapse in freight rates etc. Here is an apt summary of these views from the pro's:
Things to Worry About as a Bear
Earnings Preview: What To Expect From IBM
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IBM Inc. scheduled to report earnings after Wednesday’s close. Here is a
closer look at what the Street is expecting IBM to report.
5 minutes ago