Bw/Harris Poll: The Bull Slows To A Trot

A year ago, optimism was high in the annual BUSINESS WEEK/Harris Poll of investors. Fully 52% of respondents thought stocks would go up in the year ahead, many more than in the three previous years. How wrong they were: Wall Street is headed toward its worst year since 1990. Now, chastened, only 32% of poll respondents expect stocks to rise, the lowest figure in the five years the question has been asked. Are they right this time? Or does their pessimism mean that the market is oversold, setting the stage for an enormous rally?

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