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Survey: Investor pessimism about U.S. stocks is approaching unprecedented levels

The American Association of Individual Investors survey showed bearish sentiment on U.S. stocks topped 50 percent for the fifth week in a row. According to Bespoke Investment Group, this is the second longest consecutive bearish streak since the survey began in 1987. Earlier this week, Goldman Sachs data showed that hedge funds had sold the most net U.S. stocks in seven weeks, with short selling outpacing long buying. (Golden Ten)