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Stocks look interesting when investors run from them

The stock market has delivered plenty of chills since the start of the year, but here’s one reason why the turbulence should give way to better days ahead: Investors have turned gloomy very fast.

Contrarians love this sort of reaction. Just as optimism tends to coincide with market peaks, widespread pessimism provides a pretty good indication that the market has hit bottom and is ready to rebound.