“Sell in May and go away” worked very well if you chose Tuesdays to sell. Since the start of May, the Dow is down over 1.6% on Tuesdays (with only 2 days of better than negligible gains). What is really working is Buy Fridays… The Dow is up 11 Fridays in a row, gaining 2.4% (of the Dow’s total 2.7% gain since then). It seems the “nothing can hurt us over the weekend” effect is alive and well…
“Sell in May and go away” on Tuesdays…
Tuesdays have been the biggest loser…
And Friday is up 10 weeks in a row…
* * *
Is the entire market being wagged by a VIX-selling momentum chasing theta-grabbing leveraged minority who are convinced that no matter how much volatility spikes, it will be controlled…?
We leave to CNBC to explain (said today)…
“the biggest risk is to be short going into a weekend like this… because it might get better and then you are loising money too.”
Yep – makes perfect sense… oh wait.
via Zero Hedge http://ift.tt/1nEOMZL Tyler Durden