Sell in May and go away? ... or not?

After the first week, the market seems to follow its perenial pattern of profit taking and pause. Ater making a new high right of the open of the first trading day of the month, we have seen selling throughout the week. Friday was to be the exception only to quickly reverse on speculation Greece was to leave the EU and return to its own currency. Admitidly I did not react to the news and found myself trapped in a few long day trades which cost me a bit. I think there was a bit of over-reaction to the news as both the EU finance ministry denied the rumor and they were echoed by the Greek government as well... At this point the trading community was no longer listening and continued selling on another opportunity to do so.

How does this change my outlook for the near future ? I invite you to watch this week commentary video to see for yourself. I turned out to be a bit lengthier than past week and I apologize for it but the current situation warranted it in my opinion as there are so many possible outcome right now and the news will continue to affect the market in the short term.

Dim lights

As usual I will be glad to answer any question relative to this commentary , email me at This e-mail address is being protected from spambots. You need JavaScript enabled to view it