Historically, November is one of the best months of the year for the S&P 500. When you combine it with December, the two deliver a year-end punch that's even stronger. As we approach the half-way mark of the month, with the benchmark index up 0.6% month to date and less than half a percent off of its all-time high, a trio of out-performers has emerged that are having a November to remember.
1) J.C. Penney (JCP)
That's right. The beleaguered department store chain from Dallas has the dubious honor of being able to claim the top and bottom spots in the S&P 500. Clearly, it's worst-in-class 57% year to date decline was overdone and intrepid investors have been moving back in since late October. A better than expected earnings report and guidance last week also helped keep the rally alive in a stock that has only two buy ratings from the twenty-three analysts who cover it.
Since bottoming out at $6.24 on October 22nd, the embattled chain has gained 34%, with about a third of that, or 11.6%,