Financial advisors ended 2006 with a note of pessimism, according to the Rydex Advisor Confidence Index (ACI).
   Advisors' overall confidence in the stock market and the economy fell for the second straight month in December, going from 114.78 to 113.54-a level which the index describes as slightly more positive than neutral.
   The downward trend was primarily a result of advisors losing confidence in the stock market, according to Rydex.
   "The overall level of confidence in [the] economy is neutral and some of the advisors forecast that the economy will slightly expand throughout the first half of next year," Rydex said in its December index report.
   Advisors polled for the index showed a 4.21% drop in stock market confidence in December. The six-month outlook on the economy also saw a 1.52% drop in confidence levels, while there was a slight more optimistic view of the current economy and the 12-month outlook, which rose 0.13% and 0.43% respectively.
   Advisors who participated in the index survey conveyed a mix of feelings, with a slowing economy and a hurting housing market among the main concerns.
   "Our concern remains that a slowing economy will lead to foreign central banks turning their attention away from the dollar-even triggering selling, causing the dollar to slip even more," Michael Comando, of Avery Investment Management, told Rydex. "Add to that falling housing prices and the risk of recession begins to become an issue."