Jon Markman's Speculations: Keep market exposure — apply caution in late July Commentary: After earnings season, expect a long, hot summer

By Jon Markman , MarketWatch SEATTLE (MarketWatch) — U.S. stocks have ripped higher in the past week on optimism that the government of Greece would be able to impose austerity budget measures that will shackle its people to three decades of indentured servitude to French and German banks and not get thrown out on its ear. TODAY'S TOP INVESTING IDEAS | Research tools Stock market merits caution in late July Recent gains could be a blip in the downtrend that started in April, writes Jon Markman. Here's his advice. • Arends: Why you don’t need a ‘black swan’ fund • Marder: Aggressive speculation is back • Most important point in market history • The end of 'QE2' and you (SmartMoney) • Brimel