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Tuesday, December 8, 2009
Performance Recap: US All-Time Highs from October/30/2009
Let's revisit the stocks that made new all-time high prices in the week of October 30 to see how they have performed in about 5 weeks. I took the US stocks over $10 (originally posted here: NYSE and NASDAQ) and compared their closing price on Friday, October 30th to the closing price yesterday, December 7th. The best performers were NEU (NewMarket Corp.), which gained 15.5%, FIRE (Sourcefire Inc.) and AMZN (Amazon.com, Inc.) were not far behind. Here is a chart showing the performance of all 18 stocks during this period (SPY, QQQQ, and GLD are included for comparison).
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The distribution favors gainers over losers, which makes makes sense since the indexes had nice gains. On average the all-time highs returned a 5.3% gain, and half returned more than 6.8%. Incidentally, MELA closed at exactly the same price it started at ($10.06) for a 0.0% change. By far the worst performance was EBIX (EBIX, Inc.) at -11.5%. During the same time period both SPY and QQQQ beat the average of the all-time high list with gains of about 7%. We've seen the indexes outperform the average all-time high in each of the recent performance recaps (e.g., here and here). I'm looking forward to seeing if this pattern continues over longer time-frames as I track all-time performance in the months and years ahead.
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