Kenneth Fisher says that fears of a eurozone collapse and a double-dip recession in the U.S. continue to be overblown, and thinks stocks are positioned well heading into 2012.

“Sentiment is uniformly black — that’s almost always bullish — long term,” Fisher writes in a column for Interactive Investor. “Then, too, fundamentals are much stronger than most think and any type of positive is largely ignored by the media — which implies the potential for upside surprise. That gap between too-dour sentiment and much-better-than-appreciated fundamentals is a hugely positive force that should boost global stocks higher into 2012 and beyond.”

Fisher says earnings and revenue growth are strong globally, and that eurozone banks are better capitalized than many realize. Global retail sales have surprised on the upside, he adds, and he says industrial production is strong and overall trade is increasing.

Another positive for stocks in 2012, according to Fisher: America will either re-elect a Democrat as president, or elect a new Republican, both of which have historically been “hugely positive” for stocks. “What’s more,” he says, “this pattern is so powerful, it’s mirrored globally.”

Fisher says investors should be buying amid the market fear, and offers a few picks. Among them: Dick’s Sporting Goods.