We broke the S&P 500 into deciles (10 groups of 50 stocks) based on stock performance in 2009 to see if the big winners from last year are the ones getting hit the hardest on the recent pullback. As shown below, they definitely are. The 50 best performing S&P 500 stocks in 2009 have averaged a decline of 9.5% since 1/19. Each successive decile from best to worst in 2009 gets better in terms of performance since 1/19. The 50 worst performing S&P 500 stocks in 2009 are only down an average of 2.9% since 1/19. The winners during the bull run are being sold with authority.
Below are the worst performing S&P 500 stocks since the January 19th top. US Steel (X) is down a whopping 32%, followed by Cliffs Natural Resources (CLF), Massey Energy (MEE), Freeport-McMoRan (FCX), and QUALCOMM (QCOM). All of the names listed above are down more than 20%.