TIM Report: Market Sentiment Moved Bullish, with RIMM, X, and BAC as longs, WFC and AMR as shorts

According to the recent TIM (Trade Ideas Monitor) report for the week of October 30-November 5, 2009, the TIM Sentiment Index (TSI) rose 5.65 points to 55.49, moving into bullish territory (see last week's post and the youDevise website for additional information on the TIM report, a reading above 50 is bullish). The TSI Worldwide Index also increased 7.55 points to a bullish 57.34 reading. Nine of the ten sectors were in bullish territory with only one bearish. Total new long ideas as a percentage of all new ideas sent to investment managers by way of the TIM increased 5.64 points to 73.20%.

As for individual securities in the U.S. and North America, Research In Motion (RIMM), US Steel (X), and Bank of America (BAC) were stocks with long broker sentiment, while Wells Fargo (WFC), and AMR Corp (AMR) had short broker sentiment. In general, the consumer discretionary, energy, and materials sectors had long broker sentiment, while the consumer staples had short broker sentiment.