For The Stock Market, Its Sell In May And Go Away And Commodities Aren’t Any Better
Posted By thestatedtruth.com on June 2, 2010
July isn’t too shabby, but it has the misfortune of sitting between the only two months – June and September – that have produced losses, on average, since 1950. August has delivered a gain, but just barely. So when you add it all up, you can see that the stock market has not provided a very hospitable home for capital during the summer months.
 |
Enter May, 2010, the worst May for the Dow Jones Industrial Average since the Andrews Sisters recorded “Boogie Woogie Bugle Boy.” The Dow stumbled 7.9% last month – dropping its year-to-date return to minus 3.9%. These numbers aren’t disastrous, but they aren’t very helpful either. Better to have sold in May and gone away.
Commodities didn’t fare any better in May, as the Reuters/Jefferies CRB Index dropped more than 8%. Only gold managed to keep its bow above the waterline by gaining 3% on the month.
Comments