Reaching the Halfway Mark
Monday, June 28, 2010 at 12:17PM The S&P 500 has seen its ups and downs so far this year, swinging from up nearly 10% to down more than 5%. The index is currently down about 3.5% heading into the halfway point. Below is a chart of the S&P 500 so far this year along with its average performance throughout the year over the last 10 years. Over the last 10 years, the index has had an initial decline through early March, staged a rally during the Spring, pulled back throughout the Summer, and then picked back up in the final months of the year. This year, the Spring rally and Summer pullback started about a month early.
Along with the S&P 500, the Russell 3,000 is down year to date. The average stock in the Russell 3,000 is up 8.22%, however. Since the index is cap-weighted, this means that the smaller stocks in the index are outperforming the larger ones. There are currently 47 stocks in the index up more than 100% so far in 2010 (shown below). Most investors would be hard pressed to identify more than a handful of names on the list. Wabash National (WNC) is up the most with a gain of 348.7%, followed closely by Somaxon (SOMX) and Callon Petroleum (CPE), which are up 332.4% and 331.3% respectively. The only other stocks up more than 200% are Green Bankshares (+297%) and Applied Energetics (+268.6%). The most notable name on the list is probably NetFlix (NFLX), which is up about 117% so far in 2010.
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