Given the lack of enthusiasm on the part of individual investors towards the market over the last couple of years, one would think that Hurricane Sandy's impact on sentiment would be negative. Not so. According to the American Association of Individual Investors (AAII), bullish sentiment rose from 29.25% up to 35.74% this week for a gain of 6.49 percentage points. This represents the largest weekly increase since June 14th.
While the increase in bullish sentiment was large for a one-week period, as it stands now, bullish sentiment is still well below its historical average of 38.9% going back to 1987 and 38.3% since the start of the bull market in March 2009.
If you are an investor who is looking for new stock ideas? Each week we publish "the Bespoke 50," a list of our favorite growth stocks in the Russell 3,000. To make the list of 50, a stock must have strong earnings growth prospects along with an attractive price chart based on Bespoke's proprietary fundamental and technical analysis.
The "Bespoke 50" is released on a weekly basis, and in it you'll find the 50 stocks that made the cut, price charts for each of them, and an Excel file that you can download as well.