IS sell in May working so far ?

Everybody is looking for key investment format in Wall Street, one of the most talked about & bears favorite is "sell in May & go away".....

Like any popular theory which gives many gurus time to show their understanding of market generally fails them ....

Wall Street is never predictable even on a day to day basis sometimes even on a hour to hour basis.

Here is how indices closed on April 30th & how it is on Friday @ close :

S&P 500 April 30th close 1883.95, May 23rd close 1900.53 positive by 16.58 points

Dow April 30th close 16580.84, May 23rd close 16606.57 positive by 25.73 points

Nasdaq April 30th close 4114.56, May 23rd close 4185.81 positive by 71.25 points

So far "sell in May & go away" is not holding very well.....

Next popular theory is that VIX which closed @ new 52 wk low is signalling a " major collapse of this market"......we all know from experience new low begets lower lows......i will not be surprised IF we see 9 in VIX......which we have seen before.....

The way i see it, this TAPE has just gathered new "renewed strength"......this may entails new highs in Dow & higher highs in S&P 500 while Nasdaq is all set to make a new 52 wk high or 14 year high.....

We may see " momentum buying" going into month end........

Again, being diversified has proven to be a smart strategy which prevents or minimize losses during turmoil.

In any strength which is currently underway, diversified portfolio should outperform or do as well.

SO...sit back & enjoy this momentum buying & watch shorts & so-called smart bears scramble to get back in either to cover or go long.......this rally has further to go.......

BLOG does NOT give buy or sell.

Saleem