One can adopt one of two completely opposite strategies at this point on the long side; buy the worst hit stocks or those that have held up best during the selloff. There is no 'right' or 'wrong' strategy and perhaps a mix of the two can work best - as I look at names to add to the portfolio I am mulling this which side of the ledger to find candidates.
Below via Bespoke Investment blog we have the worst hit stocks (as of yesterday's close) in the Russell 1000. Obviously this contrasts with the high relative strength stocks I've been posting about this week. I don't see any specific theme dominating this list but a lot of commodity based stocks are prevalent.
[click to enlarge]