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We recently ran our decile analysis on stock performance since Monday's close based on stock performance on Monday.  To do this, we broke the Russell 1,000 into 10 groups of 100 stocks based on how each stock performed on Monday when the market rallied 11%.  The best 100 performing stocks on Monday are in decile 1, while the worst 100 performing stocks are in decile 10.  We then calculated the average performance of stocks in each decile on Tuesday and Wednesday. 

As shown below, the stocks that were up the most on Monday are down the most since then, while the stocks that were up the least on Monday are down the least since then.  The market is essentially where it stood at the close last Friday, with an 11% up swing and an 11% down swing mixed in.  The only thing this ping-pong action does is raise blood pressures.

click to enlarge

Riy1016

Source: Ping Pong Action