2003 in Stocks: Four in a Row for the Bears

Before you decide where stocks are headed in 2003, complete this little Christmas quiz.

Pick the odd one out: a) an unbalanced economy, b) weak companies, c) misleading earnings statements, d) above-average valuations, e) geopolitical instability and f) Dow 11,000.

Unlike many Detox readers, Wall Street's top stock touts are struggling to see anything anomalous in the above list. Just like last year, they're predicting big gains for stock indexes amid what are perfect bear-market conditions. And once again the bulls will be proven wrong because 2003 will be the fourth-straight down year for the stock market. ...