TIM Report: Brokers More Bullish, with GWW, ORLY and PFE as longs, CHK and SWY as shorts

According to the recent TIM (Trade Ideas Monitor) report for the week of October 9-15, 2009, market sentiment in the U.S. became even more bullish. The TIM Sentiment Index (TSI) was up 3.87 points in North America to 59.32 (see the youDevise website for additional information on the TIM report). The TSI Worldwide Index was down 0.96, but remained bullish at 53.60 (a reading above 50 is bullish). Six sectors were bullish, while three were bearish and one was neutral. Total new long ideas as a percentage of all new ideas sent to investment managers by way of the TIM increased 2.69 points to 71.22%.

As for individual securities in the U.S. and North America, WW Grainer Inc (GWW), O'Reilly Automotive (ORLY), and Pfizer (PFE) were stocks with long broker sentiment, while Chesapeake Energy (CHK) and Safeway (SWY) had short broker sentiment. In general, the information technology, financial, and energy sectors had long broker sentiment, while the utilities had short broker sentiment.