Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message|
( followers)  

The market was up marginally yesterday, but underlying internals were strong. And many of 2013's big winners that sold off last week saw big bounce backs Monday.

Below we have broken up the Russell 1,000 into deciles (10 groups of 100 stocks each) based on individual stock performance from the close last Tuesday (the last all-time high) through the close last Friday. We then calculated the average performance of the stocks in each decile Monday.

As shown, the decile of the worst performing stocks from Wednesday through Friday last week were up by far the most today at +1.26%. All other deciles averaged gains between 0.4% and 0.7%. Clearly, yesterday was a "buy-the-dip" kind of day.

(click to enlarge)

Source: Last Week's Losers Bounce Back