2009 Mid-Year Stock Screen Review: Is a Market Rebound in Progress?
by Wayne A. Thorp, CFA
To say that investors have been pummeled by the stock market over the last year-and-a-half or so is probably putting it a bit lightly. After seeing the broad market indexes fall in excess of 30% or more last year, many investors were casting an apprehensive eye toward 2009.
Thus far, however, it appears that the market is finding its footing, if not staging an actual reversal. But some market watchers still warn that we are merely in the midst of the “bear trap” rebound.
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Only time will tell whether we are experiencing a true turnaround, or if the market is merely taking a breather before resuming its downward march. Through the end of May of this year, the S&P 500 is up 1.8%.
However, what is more interesting is that a hypothetical portfolio of exchange-listed stocks rebalanced monthly is up over 27% for the year. As a result, many of the AAII stock screens have thus far turned in performances that dwarf the market indexes.
So far, 42 of the 59 screens tracked at AAII.com are up for the year. Of the remaining 17, two are unchanged year-to-date, and the rest are down for the year.
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