The only bubble in the stock market is the 'bear bubble' of overly negative sentiment, Fundstrat's Tom Lee says

• There's a bubble in bearish investor sentiment, according to Fundstrat's Tom Lee.
• "I am struck how investors 'default' stance on equities is bearish for stock ideas and for the market overall," Lee said.
• Lee sees a bullish year-end rally and recommends investors continue to buy any declines.

The only bubble in the stock market is in the pervasive bearish sentiment among investors, according to a Monday note from Fundstrat's Tom Lee.