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Stormy Daniels' lawyer thinks Michael Cohen has more dirt to spill on President Trump, and he's forecasting a spanking ... the likes of which Donnie has never felt.

We got Michael Avenatti Saturday leaving Craig's in WeHo, where he was being followed by paps like your standard A-lister. He rattled off answers on the Cohen tapes -- one of which has already featured 45's voice -- and speculated on what's next for the Prez.

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Mike says Cohen has turned the corner on his former client, and will probably leak more tapes in the days to come. In other words ... a second spanking for DT, according to him.