The ASX share market revival over the past few weeks is not only great for our portfolios, but is a psychological relief.
You can stick to a long-term mindset but it is still human nature to feel depressed seeing a sea of red on the stockbroking dashboard.
Gerrish told his Market Matters newsletter that the most recent leg-up has quietened the cynics.
"There have been plenty of non-believers in equities over the last 12 to 18 months but the reality is, when we include dividends, the market is only 0.7% below its all-time high," he said.
"Where's the bear market?"
The past week, according to Gerrish, had seen a "risk-on" mindset return "with a bang" after US Federal Reserve chair Jerome Powell made comments interpreted as dovish.
His team noticed three ASX shares in particular that had piqued their interest as investors rediscover their enthusiasm:
Take the extra shares
Copper producer Sandfire Resources Ltd (ASX: SFR) is almost the last man standing after rival OZ Minerals Limited (ASX: OZL) last month agreed to be absorbed into BHP Group Ltd (ASX: BHP).
Sandfire shares are thus up a stunning 47% over the past month.
Gerrish's team is still "long and bullish" on Sandfire, while noting the current stock purchase offer to existing investors.
"We still have a week to apply for the entitlement to Sandfire shares at $4.30, significantly below where the stock closed yesterday," he said.
"Hence it's highly likely that Market Matters will be taking the extra shares."
Gold, gold, gold for Australia
Gerrish's team is also keen on the gold market.
For example, the Ramelius Resources Limited (ASX: RMS) share price has rocketed up close to 15% over the past few days.
"If we are correct, both Ramelius and the gold sector have further to rally."
This ASX 200 share has already rallied an amazing 65% since mid-October to close Friday at 99 cents.
Gerrish reckons there's more to come, though.
"We feel at least the next 20% looks set to be on the upside," he said.
"We think Ramelius can now rally towards the $1.13 initial resistance following Jerome Powell's dovish statement."
