Last Friday I barely made it in time to the CNBC, but lucky I did. As May came to a triumphant close everyone needed to be set straight on Sell in May – or as we call it, the end of the Best Six Months – and remind them of June’s horrible track record. Jon Najarian was especially complimentary as was our friend and anchor Bill Griffeth. However, many on the segment with me were skeptical and ready to throw in the towel on Sell in May.
I reminded them that this market seasonal tendency runs for several more months in September and October and that our strategy has never been and will never be to sell willy-nilly and/or go away. I explained that the easy monetary policy will likely mitigate the downside during this midterm election Worst Six Months and explained the more defensive posture we take.