Recapping Wednesday's Market Performance

Since an up day in the market is such a rare occurrence, below we highlight which stocks led the market higher today and which ones held the market back. In the first chart below, we broke the Russell 1,000 into deciles (100 stocks in each decile) based on short interest as a percentage of equity float. As shown, the stocks that have the least amount of short interest were up the least today, while the deciles of the most heavily shorted stocks were up in the 1.2% range.

We also broke the Russell 1,000 into deciles based on how each stock had performed on the year going into today to see if the winners remained winners or if investors went bargain hunting and bought the losers. Based on the results, the deciles of the best performing stocks on the year going into today were also up the most today, indicating momentum buyers were out instead of the buy-the-dippers.

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Below we provide a list of the best and worst performing stocks today. As shown, WMG performed the best at +10.19%, followed by DHI (8.12%), HPQ (7.94%) and RIG (7.00%). On the downside, NTRI was down the most at -30%, followed by CROX (-14.46%).