I was asking myself last night what are the five top performing stocks in the S&P 500 so far this year? I was wondering if CNBC is talking about them, because it seems like all they ever talk about on there is Apple stock and I know it is not on the list as it is still lagging the market averages along with NVDA.
Well here they are ranked in order by their year-to-date performance.
The number one performing stock so far this year in the entire S&P 500 is XRX. Of course it crashed last year in December and so it started this year from a cheap price.
Next is this stock.
COTY owns beauty brand products like CoverGirl and Clairol. It crashed last year too and right now the chart is a bit sloppy so I do not know how one would try to trade it here.
But that is fine you just trade the good setups.
The third stock is CMG.
Of course CMG had been one of the worst performing stocks in the SP 500 for several years with its troubles until it finally bottomed in 2019. Then it took off and now is even consolidating to position itself for another breakout.
One could even buy this chart pattern and put a stop loss below $700 and aim for another run into earnings.
Next is CDNS.
CDNS is a high flyer and notice it held up well last year when the stock market declined. Right now though there is not a good entry on the stock.
And the fifth and final stock is AMD.
AMD had a big rally last year and collapsed off of its high and has just managed to go back up where it was last September. On Robinhood last year AMD attracted so many people buying it on that big run that it became one of the top five stocks that the most number of people owned there.
Robinhood traders LOVE to chase.
And now it is number nine on the Robinhood list of most owned stocks.
I do not chase stocks and do not think you should either. The only stock on this list with any kind of trading setup at this moment is CMG.
But you can see that most of these stocks are on this list because they began from low levels back in December.
To really get into a big move you got to get into something at the right time. Short-term breakouts like CMG might provide here are good for quick trades, but are not going to create the type of gains from here that came earlier this year for it.
Those are the types of moves I look for in my private trading group.
To get into the group go here:
http://wallstreetwindow.com/join-power-investor/
-Mike
