The votes are in, and our readers are fairly bullish for stocks next year despite today's dreary decline. Sixty-five percent of some 800 who answered our Market Insider surveysince Monday think that the S&P 500 will close higher this year.
Of those, the majority--40 percent--see it closing with a single digit gain, but there is another 25 percent looking for near double digit or better improvement.
Twenty percent, though, expect the S&P to close negative on the year, and another 15 percent see it stalling at current levels. One would expect those betting on the stall also expect stocks to stay on the roller coaster ride we saw in 2007. The first trading day of the year certainly
As promised, here are some of our readers' recent thoughts and not all about the '08 market outlook.
Mark Y writes:
I enjoy your articles on the CNBC site. Regarding your 12/28 posting The Bulls Want To Run, here are two observations. As you know the gold bulls have been running for 5 years now.
1) Your readers need to be informed that gold advanced 28% in 2007 and 250% since 2002.
2) The stock markets gains in 2007 were certainly negated by the true rate of inflation. Many in the general public take your words as solid advice, let's give them a dose of reality. Best wishes for a health, happy, and prosperous 2008!
Mark, you make a great point and as you see, today gold hit records in the spot market and made a new contract high.
I can sum WHAT I SEE IN 2008 in one word......RECESSION!! It's OFFICIALLY HERE!!!!!
Mike S writes:
Where was the Fed when housing was running like a Bull?? The Fed was again asleep at the wheel. How can a group of over educated people make such an uneducated mistake about the excesses in the housing market? The common person in the street could see what was going on. Mr. Greenspan said there was no bubble?? I lost all respect for him and his board that created this mess. Another government mis step. Now we have the Fed lowering interest rates to create another bubble. We are just about bubbled out in America. Stock market Bubble, the real estate bubble, next will be the export bubble, which is the only thing keeping the economy growing, The government will let this run till it implodes. It is a sad day in America.....
And Peter from Australia writes:
Well hi Happy New Year. what I think is that after the Chinese olympics there will be a crash world wide.bad crash. I'm in Australia we have the mining boom at moment but u wait and see. it will belly we are smart we will pull out just in time and wait for a couple of years.i am looking forward to buying GE after this ....
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