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TIM Report: Profit Taking Results in Less Bullish Market Sentiment

Oct 26, 2009 - 7:41 AM EDT

David Enke submits:

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%.

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Source: Seeking Alpha (Oct 26, 2009 - 7:41 AM EDT)