Sell in May…Go Away?
An old stock market dictum says that spring is for profit-taking, or at least a time to reduce your exposure to equities. In the classic market psychology, you “sell in May and go away” with the belief that stock prices will plateau or retreat in spring and summer, and then you return to stocks in the fall, taking advantage of bargains and factors that will encourage a hot fourth quarter. In the last several years, we have seen all kinds of stock market behavior, some of it extraordinary. So is there any credence to this approach now? The argument for “going away”. Over the...
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