Today's Stock Performance

Today was one of those rare days (at least based on the last two months) that the market declined.  While the index was down a little more than 1%, the average stock in the index was down more than 2%, which indicates that the largest stocks in the index held up better than the smallest stocks.  We also broke the index into deciles (50 stocks in ten groups) based on their performance from the start of the rally through yesterday's close to see how they performed today.  While the very best performing stocks during the rally actually held up okay today, the 2nd, 3rd, and 4th best deciles were down big today.  The two deciles of stocks that were up the least during the rally were also down the least today.

 

Comments

[dave]

Sounds like group rotation into large caps.