According to the recent TIM (Trade Ideas Monitor) report for the week of October 16-22, 2009, increased profit taking resulted in drops in market sentiment in the U.S., with the TIM Sentiment Index (TSI) was down 8.32 points in North America to a significantly lower, but still bullish 51.01 (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 was down 5.57 points, falling into bearish territory at 48.03. Eight sectors were in bearish territory, with two bullish. Total new long ideas as a percentage of all new ideas sent to investment managers by way of the TIM decreased 5.81 points to 65.41%.

As for individual securities in the U.S. and North America, Ingersoll-Rand (IR), Terex Corp (TEX), and Freeport McMoRan (FCX) were stocks with long broker sentiment, while Research In Motion (RIMM), Wyeth (WYE), and St. Jude Medical (STJ) had short broker sentiment. In general, the utilities and consumer staples sectors had long broker sentiment, while the information technology, health care, and energy sectors had short broker sentiment.

Barron's discusses Wyeth's new Alzheimer's drug. The company's initial Alzheimer's vaccine caused some patients to develop encephalitis, but later studies showed that the vaccine reduced the deposits that also caused the disease. When the part that attacked the plaque deposits directly was tested alone, positive results developed. The drug has been fast-tracked by the FDA, with phase II results expected in June. If successful, some are expecting this drug to be one of the largest selling drugs in the future. Given that 1 of 8 over the age of 65, and 1 of 2 over the age of 85 are expected to form some level of Alzheimer's, along with the increased numbers of baby boomers entering this demographic, the potential could be tremendous. With phase II and III results still forthcoming, caution is in order. Nonetheless, the company is certainly worth keeping on the radar. Wyeth's partner in the research is Elan.

Tickers: WYE, ELN