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Stockpickr) -- While the broad market inches higher this week, a handful of names are strapping on cement shoes. Approximately 150 stocks made new six-month lows in yesterday's session, dropping over a period when the
S&P 500 has rallied close to 10%. That's underperformance that investors should be paying attention to in March.
Those stocks aren't just laggards. They're toxic.
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That's because many poorly performing names aren't seeing an end to their stumbles from here. In fact, many are looking ready to make a new leg lower this month. Today, we'll take a closer look at five toxic names you need to avoid.
To be fair, the companies I'm talking about today aren't exactly "junk."
I mean, they're not next up in line at bankruptcy court. But that's frankly irrelevant; from a technical analysis standpoint, they're some of the worst positioned names out there right now. For that reason, fundamental investors need to decide how long they're willing to take the pain if they want to hold onto these firms this Fall. And for investors looking to buy one of these positions, it makes sense to wait for more favorable technical conditions (and a lower share price) before piling in.
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For the unfamiliar,
technical analysis is a way for investors to quantify qualitative factors, such as investor psychology, based on a stock's price action and trends. Once the domain of cloistered trading teams on Wall Street, technicals can help top traders make consistently profitable trades and can aid fundamental investors in better planning their stock execution.
So, without further ado, let's take a look at
five "toxic stocks" you should be unloading in 2013.
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