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The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.
NEW YORK (
) -- The stock market has been mighty perky in recent months, up 6% so far in 2011 and up almost 20% in the last six months. The major indices are going strong and a broad-based rally appears to be lifting not just specific sectors but blue-chips across the board.
But investors can't get complacent. Some of the biggest names on Wall Street are still screaming sell despite this relatively new bull market trend. Some stocks have proven this by lagging the market considerably during the rally. Others have shown their true colors with poor earnings, and some are just plain old dogs with fleas that are mismanaged and rely on poor business models.
To keep you in the best stocks for this rally, here are 11 mega-cap duds to sell now:
Bank of America: Financial powerhouse
Bank of America(BAC - Get Report) may be sitting on double-digit gains over the last few weeks, but shares are off -25% since last April and nearly -60% since late 2008. Bad mortgages continue to weigh on this stock so avoid it for now.
Why Bank of America is a Buy
Berkshire Hathaway: Warren Buffett'sBerkshire Hathaway(BRK.B - Get Report) has had a decent stock performance in the past year, but its earnings numbers should cause concern. A quarterly earnings growth of -8%, year-over-year has no stockholder excited. Buffett prides himself on buying good companies at fair prices, but now may be the time for growth -- not bargain hunting -- as the economy gears up once more.
BP: If the oil spill wasn't enough to turn you off from buying
BP(BP - Get Report), its -14% drop in the last 12 months should. Analysts are projecting an earnings drop of 13 cents this quarter as well. Crude oil may be on the rise, but investors have better energy stocks to invest in.
Cisco Systems: Communications and IT giant
Cisco Systems(CSCO - Get Report) has had the worst 12 months of any stock on this list, down -21%. When things started to pick up at the end of January, CSCO dropped -15% again. The numbers say it all.
Google: It may be your go-to search engine, but
Google(GOOG - Get Report) should not be your go-to stock to buy. In the last month, the broader markets have posted modest gains while Google has barely treaded water. The company is sitting on piles of cash and toying with the buyout of everything from Twitter to Groupon. But when you look at the actual earnings, GOOG doesn't really impress me in the short term.