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(AP Photo/Henny Ray Abrams)
Tom Callan reporting
The economy is in a sour mood, but one analyst says investors are about to shake off the bad news.
Analyst Sterling Jenson, with Wells Capital Management, says he sees by year's end a 20 percent rebound on Wall Street. "It may not exactly fit within the calendar year of 2008. It may spill over into 2009," he said.
Jenson says investors sitting on piles of cash are getting restless. "We think it's going to be kind of jaggedly upward between now and the end of the year," he said.
He thinks the market already has soaked up all the bad news. "And certainly, if you come into this market today, you're being a contrarian," Jenson said.
In other words, it could be party time in a year for the risk takers.
E-mail: tcallan@ksl.com
