Investors Hunker Down on Groundhog Day

Punxsutawney Phil sees his shadow, investors see more of the same.

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If you believe this sort of thing, famed groundhog Punxsutawney Phil today predicted six more weeks of winter. It seems like investors are also predicting more of the same: Many continue to seek shelter in gold and Treasuries in anticipation of more bad news.

Speaking of news, last month was the worst January ever for both the S&P and the Dow. Both fell roughly 9 percent. That's pretty gloomy news, points out Money & Co., as January often foreshadows the market's performance for the entire year. If you believe that sort of thing.