Dump These 5 'Toxic Stocks' Before the New Year

Start 2017 on the right foot by selling your holdings in these five stocks.
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While the S&P 500 may be ending 2016 with double-digits gains, almost a third of the index' individual stocks have gone down. Here are some of the perpetrators you should dump from your portfolio. Abbott Labs (ABT) - Get Report shares have lost about 15% of their market value, which means that they're under-performing the S&P 500 by about 25%. Shake Shack (SHAK) - Get Report  rose 10% on good third-quarter results but the stock has been forming a bearish reversal pattern. Enstar Group's (ESGR) - Get Report chart is starting to look "toppy" and you should sell it as soon as it hits $190. Alexion Pharmaceuticals (ALXN) - Get Report has been shedding more than 35% of its market value since January and could go down even more. Bank of New York Mellon (BNY) - Get Report has rallied 15% since the beginning of the year. The sell signal trigger will happen when it hits $47 a share.

This article was written by a staff member of TheStreet.