Before 9/11, we would visit the âopen cryâ pits of oil and commodities traders near Battery Park in Manhattan. The pits were chaotic. There was yelling.
â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â â June 2, 2023 | [View Online]( | [Sign Up]( Why âSell In Mayâ Has Gone Away âOnly buy something that youâd be perfectly happy to hold if the market shuts down for ten years.â â Warren Buffett Before 9/11, we would visit the âopen cryâ pits of oil and commodities traders near Battery Park in Manhattan. The pits were chaotic. There was yelling. People threw little slips of paper with trading instructions on them at âpit bossesâ who wore vests like they ought to be on their way to clean the toilets down the hallway⦠but they were really the ones moving big money. It was exciting, fun and loud. 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A beast, an organism, a force of nature. And now, a cyborgian half-breed. And it falls upon the intelligent investor to change with it. The wisdom will change with it. We love stock market lore like âBuy the rumor, sell the newsâ or âThe rich think in terms of decades rather than day-to-day like the everyman does.â That kind of thing. Thereâs something romantic about it. âSell in May and go away!â is one of our favorites. But now we realize the phrase may be but a leveling denomination, an aristocratic adage shewn from the late British Empire, adopted by Wall Street seersuckers and the like. We know the idea from the old timerâsâguys like Jesse Livermoreâwho believed trading in the summer was far more risky than it was worth, as stocks typically underperform in the summer months. Your money in cash means it isnât at risk in the markets. Plus, in the northern hemisphere itâs hot and humid; if you sold your stocks, took your profits, and escaped the summer city heat, life would be more enjoyable. Free to spend it in Tulum where your dollar goes further and the crypto evangelists like to play. Or, if youâre inclined, the transatlantic cruise lines have rebooted following the pandemic and are still reasonably inexpensive. You might even take your profits and lounge on the beach in the French Riviera living lavishly like itâs a rebirth of the Roaring â20s. Thatâs the idea anyhow. Thereâs definitely an F. Scott Fitzgerald Great Gatsby vibe to the phrase; the promise of opulence, licentiousness, Brigitte Bardot, the 400 Blows⦠and having the âfâ you money to do it. Sometimes a quaint notion. Sell in May, donât buy again until October or November, when all the traders get serious about their AI stocks and options trades again. POWERED BY INVESTING DAILY Secret behind reclusive millionaire's 8-year win streak revealed Seven years. That's how long this reclusive millionaire has been using his secret trading strategy. And despite all the volatility and uncertainty of the last few yearsâ¦â¦he still hasn't closed a losing trade since July of 2016. I've cornered the man behind this secret and got him to reveal on camera exactly how he has done it. This is the can't-miss interview you need to see to believe. [Click here to watch it for yourself.]( CONTINUED... Looking solely at historical S&P 500 data, itâs not just a wealthy personâs fever dream. Summer seasons do tend to make up the smallest percentage of a calendar yearâs return. The worst month on average is September. âIn fact, the second part of that phrase is â...come back on St. Legerâs Day,â referring to a horse race,â writes Robinhoodâs Stephanie Guild. St. Legerâs Day Stakes are typically run in September. This yearâs event will take place between September 14 and 17. Ironically, Robinhood is part of the reason the âSell in Mayâ sentiment is losing its veracity and with it the nostalgia of old school traders. On a beautiful spring day in Baltimore, just a few weeks past our own Preakness Stakes, weâre kind of nostalgic for open cry and taking the summer months off to travel and enjoy your wins⦠or losses as they may be. People still say âsell in may and go awayâ but the phrase is about as vestigial to the markets as your appendix is to your stomach or a wing bone on a flightless bird. So it goes, Addison Wiggin The Wiggin Sessions P.S. With the debt ceiling debate mollified (for now) and the banking crisis still nascent⦠and inflation not nearly under wraps⦠this year stock picking is the task. These days, if you sell in May and wait until St. Legerâs Day to buy again your portfolio is likely going to be in shambles when you return to it. 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