Take the Money and Run? Top 10 Q1 S&P 500 Stocks Look Ripe for Pullbacks

With the first quarter of 2013 now in the books, traders will be pouring over data on the top performers to look for either more upside or opportunities for shorts. Notably, a quick glance at the first quarter's top 10 S&P 500 performers suggests nearly every one is ripe for a pullback based on valuation and fundamentals. Many of the stocks had severely negative sentiment heading into the new year and have seen shares re-rated in the first quarter. Exceptions may be Netflix, Celgene and Marathon Petroleum, which all have real momentum. Nonetheless, those shares too look ripe for profit-taking.

Below are the top 10 S&P 500 performers in the first quarter of 2013 and their respective moves higher:

1. Netflix (NASDAQ: NFLX) up 104.4%
2. Best Buy (NYSE: BBY) up 86.9%
3. Hewlett-Packard (NYSE: HPQ) up 67.3%
4. H&R Block (NYSE: HRB) up 58.4%
5. Micron (NYSE: MU) up 57.3%
6. Celgene (NASDAQ: CELG) up 47.7%
7. Tenet Healthcare (NASDQ: THC) up 46.5%
8. Safeway (NYSE: SWY) up 45.7%
9. Avon Products (NYSE: AVP) up 44.4%
10. Marathon Petroleum (NYSE: MPC) up 42.2%

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