2012 has been a very non-homogenous market so far. Relatively junky Bank of America (BAC) led the pack by far while four of the six worst DJIA performers- excepting Hewlett Packard (HPQ) and Alcoa (AA), would normally be considered high-quality issues.
The three best so far in 2012 came off very different from the previous year’s performances.
The bottom three confirmed that 2011’s action gave no conclusive guidance to what was on tap for 2012.
Chart Sources: Big Charts
With so much variation in YTD results, it appears we’re deep into a classic ‘stock pickers’ market rather than a ‘rising-tide-lifts-all-boats’ environment.
That should make fundamental analysts happy.
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