Sell in May and Go Away?

[YOUNG_TRADER]

2020, an optimist like you should know it doesn't matter which side of the bbq you're on; if the smokes blowin' away from you, fine- if the smokes blowin' all around you it's keepin' the mossies off- also fine, so have another beer & be happy.

The words of a truly insightful investor,

Still hoping for the crash my friend?

Keep saying it, one day you'll be right, then you can say ha! Told you so!

Meanwhile I'll keep making money, to give you an idea I've made more in this month of May than I have in the last year and I'd say I made a fair bit in the last year

Am glad I didn't sell in May and go away!

 

[Out Too Soon]

Ha! Told you so!, well & truly broken below 3 mth support line.
You're right tho' YT, I have missed a lot of opportunitys & the market will prob bounce back on Monday. I'm only holding BON & JML & JML doesn't look so hot with a metal price correction & possible market correction. I'm a bit like the Bulldogs tonight- can't do anything right

 

[BIG BWACULL]

If i sold in MAY and went away, i'd have spent all day
wondering where, if i may, what my money wouldve done today
With limited cashflow, if i sold today i'd never know
What could have been tomorrow, and hence my sorrow
So fortunatley or not, my money is in the spot awaiting a handsome plot
to turn my hard earned savings aloft, with a landing oh so soft
On the otherside where the grass be green as ive read in a magazine
So hold and wait is my theme so the kids can live their dream
with me here and there and in between.
BY B.B

 

[nizar]

Agree with Bwacull and YT.
When you are in this type of market, its MORE RISK being out than being invested.

 

[Mofra]

Gearing in with capital protected products tend to make these predictions more than a little amusing

 

[Mousie]

If i sold in MAY and went away, i'd have spent all day
wondering where, if i may, what my money wouldve done today
With limited cashflow, if i sold today i'd never know
What could have been tomorrow, and hence my sorrow
So fortunatley or not, my money is in the spot awaiting a handsome plot
to turn my hard earned savings aloft, with a landing oh so soft
On the otherside where the grass be green as ive read in a magazine
So hold and wait is my theme so the kids can live their dream
with me here and there and in between.
BY B.B

That's a gold(en poem) BB - I won't be betting against you having won literature contests in the past!

 

[YOUNG_TRADER]

If i sold in MAY and went away, i'd have spent all day
wondering where, if i may, what my money wouldve done today
With limited cashflow, if i sold today i'd never know
What could have been tomorrow, and hence my sorrow
So fortunatley or not, my money is in the spot awaiting a handsome plot
to turn my hard earned savings aloft, with a landing oh so soft
On the otherside where the grass be green as ive read in a magazine
So hold and wait is my theme so the kids can live their dream
with me here and there and in between.
BY B.B

That's a gold(en poem) BB - I won't be betting against you having won literature contests in the past!

lol couldn't agree more, I've heard of the 'barman poet' (See Cocktail staring Tom Cruise) but never the 'trader poet'

 

[YOUNG_TRADER]

Yawnnnnn, looks like the US markets are ignoring yet another trigger to a Sell in May correction, Chinese mkts fell 6.5% today and I thought hmmm maybe this will be the trigger for a sell off.

But US Mkts are now up!

Should have been buy before May and don't sell okay!

 

[Fool]

Yawnnnnn, looks like the US markets are ignoring yet another trigger to a Sell in May correction, Chinese mkts fell 6.5% today and I thought hmmm maybe this will be the trigger for a sell off.

But US Mkts are now up!

Should have been buy before May and don't sell okay!

Based on the 110 points the DOW went up yesterday (last night), would you say today should be a strong day for the ASX?

I have often heard that we follow the US market more or less exactly.

 

[nizar]

Yawnnnnn, looks like the US markets are ignoring yet another trigger to a Sell in May correction, Chinese mkts fell 6.5% today and I thought hmmm maybe this will be the trigger for a sell off.

But US Mkts are now up!

Should have been buy before May and don't sell okay!

As i suspected, US didnt give a f&*^ about China.
The way it should be. China accounts for, what, less than 3% of global equity markets.

 

[YOUNG_TRADER]

As i suspected, US didnt give a f&*^ about China.
The way it should be. China accounts for, what, less than 3% of global equity markets.

Yeah guess being fooled once in Late Feb was enough for the US and Global equity markets,

As a wise man once said "Fool me once, shame on ... shame on ... shame on you! Fool me twice ... ... ... I can't ... you can't fool me twice!" (G. Bush Jnr, the leader of the "Free World")

 

[UPKA]

As a wise man once said "Fool me once, shame on ... shame on ... shame on you! Fool me twice ... ... ... I can't ... you can't fool me twice!" (G. Bush Jnr, the leader of the "Free World")

hahah great quote there YT , i think the market has widely expected a correction in China, and yesterday's pull back isnt as bad as i expected, i was thinking something like a 8-9% drop. as long as it within the market expectation, there wont be any panics. plus there r alot of cash sitting around, expect a profitable month in June!

 

[steven1234]

Some investors are looking for any excuse to sell. This was evident from the drop yesterday

 

[Pommiegranite]

Well..that's the first day of June over and done with.

Not a major sell of at the end of Friday either.

Kinda bodes well for June me thinks.

Do you all think the 'Sell in May and Go Away' crowd returned today?

 

[Lachlan6]

What a media hyped up load of @@!!@%!. The old sell in May and go away theory has proved to be one giant fallacy when you look at the last 5 years. Only one year since 2002 has our market fallen sharply in May, proving that this is not a true theory. Ah well, its good to cause a bit of a second think about trading in this 'mythical' month.

 

[Mofra]

As i suspected, US didnt give a f&*^ about China.
The way it should be. China accounts for, what, less than 3% of global equity markets.

China is driving much of our current economic boom though, with Australia's economy being highly leveraged to the fortunes of commodities & China's growth the major factor behind the surging commodoties amrkets.

In other words; three percent shmee percent - we are still China's economic bi-ach in the short term.

 

[Spaghetti]

Sell in June - Out of tune?

I have a feeling with the drop today many may see it as time to take a end of FY break. Only a feeling, anyone else have that imagery or I am having a momentary lack of confidence in the market.

 

[Lachlan6]

GDay Spaghetti. I have been bearish our market and international markets for a little while now. You simply cannot ignore obviously diverging indicators forever. It is the same both on our local market and in the US that the RSI is heavily in negative divergence with price action. The DOW is also displaying this divergence with price, and todays action means it has closed out of a short term trend channel beginning in late March. In fact, it is the first time two sizeable falls have occured on the index consecutively, since the beginning of that short term trend up. Furthermore, today's close, is the first below the 15 day EMA since late March, a sign the up trend is running out of steam.

This brings us to scenarios. If it is just short term profit taking, the index may only fall to around 13,290 (yawn). However if a correction occurs, I am favouring the 12,825 level as key support and retracement. Who know's, the market may just go sideways for a bit before continuing upwards. However, I believe we must have a fall, either a correction or a more sizeable one, as the indicators are screeming red.

 

[BIG BWACULL]

GDay Spaghetti. I have been bearish our market and international markets for a little while now. You simply cannot ignore obviously diverging indicators forever. It is the same both on our local market and in the US that the RSI is heavily in negative divergence with price action. The DOW is also displaying this divergence with price, and todays action means it has closed out of a short term trend channel beginning in late March. In fact, it is the first time two sizeable falls have occured on the index consecutively, since the beginning of that short term trend up. Furthermore, today's close, is the first below the 15 day EMA since late March, a sign the up trend is running out of steam.

This brings us to scenarios. If it is just short term profit taking, the index may only fall to around 13,290 (yawn). However if a correction occurs, I am favouring the 12,825 level as key support and retracement. Who know's, the market may just go sideways for a bit before continuing upwards. However, I believe we must have a fall, either a correction or a more sizeable one, as the indicators are screeming red.

Maybe its time to start a new thread, SELL IN JUNE OR ARE WE IMMUNE

 

[Spaghetti]

Lol we are poetic!

I am comforted by the fact that the stocks I watch haven't recorded huge volumes yet so no evidence of real panic selling. Mind you I don't watch many atm. Have sold out of all but one blue chip due to my assessment they had reached as high as they would go in the short term and could not find any good value replacements. If many people have had my experience then we may have a few fence sitters in the short term. It would also support your analysis Lachlan.