BALTIMORE (Stockpickr) -- This market just doesn't want to stay down. Momentum is clearly on the side of buyers right now.
But this still isn't a "dartboard market." By that, I mean that you can't pick stocks by throwing a dart at a board full of tickers. That may work during truly frothy bull markets, but stock picking still matters in this market.
Case in point, two thirds of Dow Jones Industrial Average components are down year-to-date. And of those, half are down 5% or more since the calendar flipped over to January. They're not just underperforming; they're underperforming by a factor of 10. If you hold on to "toxic stocks" in this environment, your performance is sure to suffer.
Must Read: Bank of America Is Toxic to Your Portfolio