Bearish on Banks: TheStreet Says

Updated from 6 a.m. with the latest poll results.

NEW YORK (TheStreet) -- Disappointing jobs numbers took down stocks at the end of last week and economist Nouriel "Dr. Doom" Roubini, and others are piling on.

Asian stocks ended mostly lower Monday, partly on Roubini's reported comments that "markets have gone up too much, too soon, too fast," and that he saw a "risk of a correction" as markets come around to realize a recovery won't be rapid.

Meanwhile, HSBC(HBC Quote) CEO Michael Geoghegan told the Financial Times he's so convinced there will be a second downturn in the coming months that he won't rush into expanding the bank. He also said any recovery would be "W-shaped" rather than "V-shaped."

That sentiment also is reflected in the results of the latest TheStreet.com RealMoney Barometer survey as the bears are having their way for a third straight week.

As of 7:35 a.m. EDT Monday, the bears took 378, or 43.5%, of the 868 votes cast. But the bulls haven't backed down entirely, as they have 344, or 39.6%, of the votes cast, perhaps anticipating a strong earnings season -- or at least hoping for one -- that will serve as a catalyst for the stock market. Neutral had 146 votes, or almost 17%.

The unofficial start of the third-quarter earnings season begins Wednesday when Alcoa (AA Quote) reports. Next week and the week after will see a flood of corporate reports, giving investors quite a bit to chew on.