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Workers pass the bull in New York’s Financial District.
Workers pass the bull in New York’s Financial District.
(David Karp/AP)

Bullish magazine cover, bullish market?

Magazine covers aren’t what they used to be. They once carried some weight among contrarian investors looking for evidence that the stock market was either primed for a rally (thanks to a bearish cover) or a correction (a bullish cover). Now? Covers aren’t providing a clear signal.

That’s the conclusion from Birinyi Associates after they looked at issues of Time magazine with pictures of bulls on the cover. They found nine of them – not including the most recent cover story (and picture), “How Wall Street Won.”